Loan Comparison: 3.85% vs 6.5%
20705 Fair, Centennial, CO 80016 · 4bd/5ba · $825,000
List Price
$825,000
Assumable Rate
3.85%
Remaining Balance
$503,691
Equity Gap
$322,353
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$322,353
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 3.85% + gap loan
$4,523/moAssumed loan: $2,361/mo
Gap financing: $2,161/mo
$431less per month with the assumable
Your Savings on This Property
20705 Fair, Centennial · 3.85% VA vs 6.5% conventional
$431
per month
$5,173
per year
$155,178
over 30 years
$156,222
interest saved
How gap financing works: The equity gap ($322,353) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($281,103 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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