Loan Comparison: 2.89% vs 6.5%
10823 Larson, Northglenn, CO 80233 · 3bd/2ba · $395,000
List Price
$395,000
Assumable Rate
2.89%
Remaining Balance
$223,741
Equity Gap
$170,741
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$170,741
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.89% + gap loan
$2,091/moAssumed loan: $930/mo
Gap financing: $1,161/mo
$281less per month with the assumable
Your Savings on This Property
10823 Larson, Northglenn · 2.89% VA vs 6.5% conventional
$281
per month
$3,369
per year
$101,076
over 30 years
$100,558
interest saved
How gap financing works: The equity gap ($170,741) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($150,991 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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