Loan Comparison: 2.98% vs 6.5%
18071 96th, Commerce City, CO 80022 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
2.98%
Remaining Balance
$403,913
Equity Gap
$95,198
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$95,198
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.98% + gap loan
$2,238/moAssumed loan: $1,699/mo
Gap financing: $540/mo
$764less per month with the assumable
Your Savings on This Property
18071 96th, Commerce City · 2.98% VA vs 6.5% conventional
$764
per month
$9,168
per year
$275,041
over 30 years
$274,152
interest saved
How gap financing works: The equity gap ($95,198) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($70,198 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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