Loan Comparison: 3.02% vs 6.5%
17177 103rd, Commerce City, CO 80022 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
3.02%
Remaining Balance
$464,366
Equity Gap
$173,217
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$173,217
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 3.02% + gap loan
$3,091/moAssumed loan: $1,963/mo
Gap financing: $1,128/mo
$92less per month with the assumable
Your Savings on This Property
17177 103rd, Commerce City · 3.02% VA vs 6.5% conventional
$92
per month
$1,098
per year
$32,953
over 30 years
$140,536
interest saved
How gap financing works: The equity gap ($173,217) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($146,717 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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