Loan Comparison: 2.98% vs 6.5%
21806 Berry, Centennial, CO 80015 · 3bd/3ba · $549,999
List Price
$549,999
Assumable Rate
2.98%
Remaining Balance
$395,052
Equity Gap
$204,772
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$204,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.98% + gap loan
$3,024/moAssumed loan: $1,661/mo
Gap financing: $1,363/mo
$278less per month with the assumable
Your Savings on This Property
21806 Berry, Centennial · 2.98% VA vs 6.5% conventional
$278
per month
$3,338
per year
$100,146
over 30 years
$149,971
interest saved
How gap financing works: The equity gap ($204,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($177,272 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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