Loan Comparison: 2.68% vs 6.5%
2703 Chesapeake, Evans, CO 80620 · 4bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.68%
Remaining Balance
$313,219
Equity Gap
$142,465
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$142,465
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.68% + gap loan
$2,195/moAssumed loan: $1,267/mo
Gap financing: $928/mo
$417less per month with the assumable
Your Savings on This Property
2703 Chesapeake, Evans · 2.68% VA vs 6.5% conventional
$417
per month
$5,001
per year
$150,020
over 30 years
$170,704
interest saved
How gap financing works: The equity gap ($142,465) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($120,715 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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