Loan Comparison: 2.87% vs 6.5%
20950 Ida, Centennial, CO 80015 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
2.87%
Remaining Balance
$241,919
Equity Gap
$332,542
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$332,542
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.87% + gap loan
$3,339/moAssumed loan: $1,003/mo
Gap financing: $2,336/mo
$114less per month with the assumable
Your Savings on This Property
20950 Ida, Centennial · 2.87% VA vs 6.5% conventional
$114
per month
$1,365
per year
$40,938
over 30 years
$40,399
interest saved
How gap financing works: The equity gap ($332,542) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($303,792 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.