Loan Comparison: 2.87% vs 6.5%
1354 Kendall, Lakewood, CO 80232 · 4bd/2ba · $535,000
List Price
$535,000
Assumable Rate
2.87%
Remaining Balance
$386,479
Equity Gap
$153,538
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$153,538
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.87% + gap loan
$2,577/moAssumed loan: $1,602/mo
Gap financing: $975/mo
$635less per month with the assumable
Your Savings on This Property
1354 Kendall, Lakewood · 2.87% VA vs 6.5% conventional
$635
per month
$7,622
per year
$228,656
over 30 years
$233,673
interest saved
How gap financing works: The equity gap ($153,538) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($126,788 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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