Loan Comparison: 2.74% vs 6.5%
15632 Ray, Larkspur, CO 80118 · 3bd/2ba · $875,000
List Price
$875,000
Assumable Rate
2.74%
Remaining Balance
$382,097
Equity Gap
$492,903
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$492,903
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.74% + gap loan
$5,011/moAssumed loan: $1,558/mo
Gap financing: $3,454/mo
$243less per month with the assumable
Your Savings on This Property
15632 Ray, Larkspur · 2.74% VA vs 6.5% conventional
$243
per month
$2,911
per year
$87,341
over 30 years
$87,341
interest saved
How gap financing works: The equity gap ($492,903) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($449,153 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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