Loan Comparison: 2.9% vs 6.5%
16604 Hollow Horn, Parker, CO 80134 · 4bd/3ba · $595,000
List Price
$595,000
Assumable Rate
2.9%
Remaining Balance
$466,089
Equity Gap
$127,891
Loan Type
VAAdjust Your Scenario
$29,750
$29,750$127,891
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 2.9% + gap loan
$2,695/moAssumed loan: $1,940/mo
Gap financing: $755/mo
$878less per month with the assumable
Your Savings on This Property
16604 Hollow Horn, Parker · 2.9% VA vs 6.5% conventional
$878
per month
$10,538
per year
$316,131
over 30 years
$315,111
interest saved
How gap financing works: The equity gap ($127,891) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($98,141 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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