Loan Comparison: 2.74% vs 6.5%
10481 Tucson, Commerce City, CO 80022 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.74%
Remaining Balance
$267,445
Equity Gap
$216,221
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$216,221
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.74% + gap loan
$2,580/moAssumed loan: $1,090/mo
Gap financing: $1,490/mo
$122less per month with the assumable
Your Savings on This Property
10481 Tucson, Commerce City · 2.74% VA vs 6.5% conventional
$122
per month
$1,466
per year
$43,970
over 30 years
$77,636
interest saved
How gap financing works: The equity gap ($216,221) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($193,721 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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