Loan Comparison: 2.88% vs 6.5%
12558 Arizona, Lakewood, CO 80228 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.88%
Remaining Balance
$593,426
Equity Gap
$59,126
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$59,126
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.88% + gap loan
$2,668/moAssumed loan: $2,464/mo
Gap financing: $205/mo
$1,235less per month with the assumable
Your Savings on This Property
12558 Arizona, Lakewood · 2.88% VA vs 6.5% conventional
$1,235
per month
$14,815
per year
$444,464
over 30 years
$447,016
interest saved
How gap financing works: The equity gap ($59,126) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($26,626 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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