Loan Comparison: 2.84% vs 6.5%
6807 Gateway Crossing, Wellington, CO 80549 · 4bd/3ba · $485,000
List Price
$485,000
Assumable Rate
2.84%
Remaining Balance
$385,571
Equity Gap
$99,429
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$99,429
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.84% + gap loan
$2,171/moAssumed loan: $1,593/mo
Gap financing: $578/mo
$742less per month with the assumable
Your Savings on This Property
6807 Gateway Crossing, Wellington · 2.84% VA vs 6.5% conventional
$742
per month
$8,900
per year
$267,009
over 30 years
$267,009
interest saved
How gap financing works: The equity gap ($99,429) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($75,179 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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