Loan Comparison: 2.79% vs 6.5%
12077 Wanderlust, Parker, CO 80138 · 4bd/4ba · $850,000
List Price
$850,000
Assumable Rate
2.79%
Remaining Balance
$494,995
Equity Gap
$355,005
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$355,005
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.79% + gap loan
$4,434/moAssumed loan: $2,031/mo
Gap financing: $2,403/mo
$670less per month with the assumable
Your Savings on This Property
12077 Wanderlust, Parker · 2.79% VA vs 6.5% conventional
$670
per month
$8,037
per year
$241,121
over 30 years
$241,121
interest saved
How gap financing works: The equity gap ($355,005) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($312,505 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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