Loan Comparison: 2.74% vs 6.5%
15632 Ray, Larkspur, CO 80118 · 3bd/2ba · $895,000
List Price
$895,000
Assumable Rate
2.74%
Remaining Balance
$383,884
Equity Gap
$511,116
Loan Type
VAAdjust Your Scenario
$44,750
$44,750$511,116
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,374/moAssumable @ 2.74% + gap loan
$5,151/moAssumed loan: $1,565/mo
Gap financing: $3,586/mo
$223less per month with the assumable
Your Savings on This Property
15632 Ray, Larkspur · 2.74% VA vs 6.5% conventional
$223
per month
$2,677
per year
$80,304
over 30 years
$80,304
interest saved
How gap financing works: The equity gap ($511,116) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,750, 5% of purchase price) and a second mortgage for the rest ($466,366 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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