Loan Comparison: 1% vs 6.5%
11697 Olathe, Commerce City, CO 80022 · 4bd/4ba · $723,400
List Price
$723,400
Assumable Rate
1%
Remaining Balance
$443,848
Equity Gap
$278,548
Loan Type
VAAdjust Your Scenario
$36,170
$36,170$278,548
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 1% (VA)
Blended Rate: 3.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,344/moAssumable @ 1% + gap loan
$3,291/moAssumed loan: $1,428/mo
Gap financing: $1,864/mo
$1,052less per month with the assumable
Your Savings on This Property
11697 Olathe, Commerce City · 1% VA vs 6.5% conventional
$1,052
per month
$12,630
per year
$378,898
over 30 years
$377,894
interest saved
How gap financing works: The equity gap ($278,548) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,170, 5% of purchase price) and a second mortgage for the rest ($242,378 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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