Loan Comparison: 2.74% vs 6.5%
6561 112th, Westminster, CO 80020 · 4bd/3ba · $489,900
List Price
$489,900
Assumable Rate
2.74%
Remaining Balance
$329,864
Equity Gap
$160,036
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$160,036
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.74% + gap loan
$2,387/moAssumed loan: $1,345/mo
Gap financing: $1,042/mo
$555less per month with the assumable
Your Savings on This Property
6561 112th, Westminster · 2.74% VA vs 6.5% conventional
$555
per month
$6,655
per year
$199,652
over 30 years
$199,652
interest saved
How gap financing works: The equity gap ($160,036) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($135,541 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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