Loan Comparison: 3.02% vs 6.5%
7298 Adriatic, Lakewood, CO 80227 · 3bd/4ba · $675,000
List Price
$675,000
Assumable Rate
3.02%
Remaining Balance
$420,699
Equity Gap
$253,331
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$253,331
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.02% + gap loan
$3,467/moAssumed loan: $1,778/mo
Gap financing: $1,688/mo
$587less per month with the assumable
Your Savings on This Property
7298 Adriatic, Lakewood · 3.02% VA vs 6.5% conventional
$587
per month
$7,038
per year
$211,148
over 30 years
$210,178
interest saved
How gap financing works: The equity gap ($253,331) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($219,581 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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