Loan Comparison: 2.77% vs 6.5%
5845 Scenic, Firestone, CO 80504 · 4bd/4ba · $585,000
List Price
$585,000
Assumable Rate
2.77%
Remaining Balance
$444,962
Equity Gap
$220,883
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$220,883
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.77% + gap loan
$3,295/moAssumed loan: $1,821/mo
Gap financing: $1,473/mo
$218less per month with the assumable
Your Savings on This Property
5845 Scenic, Firestone · 2.77% VA vs 6.5% conventional
$218
per month
$2,616
per year
$78,477
over 30 years
$159,322
interest saved
How gap financing works: The equity gap ($220,883) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($191,633 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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