Loan Comparison: 2.9% vs 6.5%
2951 Downing, Englewood, CO 80113 · 4bd/3ba · $709,000
List Price
$709,000
Assumable Rate
2.9%
Remaining Balance
$471,063
Equity Gap
$239,231
Loan Type
VAAdjust Your Scenario
$35,450
$35,450$239,231
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,257/moAssumable @ 2.9% + gap loan
$3,528/moAssumed loan: $1,961/mo
Gap financing: $1,567/mo
$730less per month with the assumable
Your Savings on This Property
2951 Downing, Englewood · 2.9% VA vs 6.5% conventional
$730
per month
$8,756
per year
$262,688
over 30 years
$263,982
interest saved
How gap financing works: The equity gap ($239,231) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,450, 5% of purchase price) and a second mortgage for the rest ($203,781 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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