Loan Comparison: 2.88% vs 6.5%
12558 Arizona, Lakewood, CO 80228 · 4bd/3ba · $649,000
List Price
$649,000
Assumable Rate
2.88%
Remaining Balance
$589,593
Equity Gap
$58,126
Loan Type
VAAdjust Your Scenario
$32,450
$32,450$58,126
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,897/moAssumable @ 2.88% + gap loan
$2,645/moAssumed loan: $2,448/mo
Gap financing: $197/mo
$1,252less per month with the assumable
Your Savings on This Property
12558 Arizona, Lakewood · 2.88% VA vs 6.5% conventional
$1,252
per month
$15,022
per year
$450,661
over 30 years
$449,380
interest saved
How gap financing works: The equity gap ($58,126) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,450, 5% of purchase price) and a second mortgage for the rest ($25,676 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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