Loan Comparison: 2.83% vs 6.5%
10989 Pitkin, Commerce City, CO 80022 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
2.83%
Remaining Balance
$259,712
Equity Gap
$315,287
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$315,287
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.83% + gap loan
$3,275/moAssumed loan: $1,071/mo
Gap financing: $2,203/mo
$178less per month with the assumable
Your Savings on This Property
10989 Pitkin, Commerce City · 2.83% VA vs 6.5% conventional
$178
per month
$2,138
per year
$64,138
over 30 years
$64,137
interest saved
How gap financing works: The equity gap ($315,287) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($286,537 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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