Loan Comparison: 3.125% vs 6.5%
12558 Arizona, Lakewood, CO 80228 · 4bd/3ba · $639,000
List Price
$639,000
Assumable Rate
3.125%
Remaining Balance
$589,291
Equity Gap
$49,709
Loan Type
VAAdjust Your Scenario
$31,950
$31,950$49,709
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.125% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,837/moAssumable @ 3.125% + gap loan
$2,661/moAssumed loan: $2,524/mo
Gap financing: $137/mo
$1,176less per month with the assumable
Your Savings on This Property
12558 Arizona, Lakewood · 3.125% VA vs 6.5% conventional
$1,176
per month
$14,112
per year
$423,374
over 30 years
$423,374
interest saved
How gap financing works: The equity gap ($49,709) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,950, 5% of purchase price) and a second mortgage for the rest ($17,759 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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