Loan Comparison: 5.23% vs 6.5%
17252 Parkside, Commerce City, CO 80022 · 4bd/4ba · $640,000
List Price
$640,000
Assumable Rate
5.23%
Remaining Balance
$465,275
Equity Gap
$174,725
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$174,725
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 5.23% + gap loan
$3,661/moAssumed loan: $2,564/mo
Gap financing: $1,097/mo
$182less per month with the assumable
Your Savings on This Property
17252 Parkside, Commerce City · 5.23% VA vs 6.5% conventional
$182
per month
$2,184
per year
$65,533
over 30 years
$65,533
interest saved
How gap financing works: The equity gap ($174,725) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($142,725 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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