Loan Comparison: 2.88% vs 6.5%
14630 Guernsey, Mead, CO 80542 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
2.88%
Remaining Balance
$526,280
Equity Gap
$37,572
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$37,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 2.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.88% + gap loan
$2,257/moAssumed loan: $2,185/mo
Gap financing: $72/mo
$1,136less per month with the assumable
Your Savings on This Property
14630 Guernsey, Mead · 2.88% VA vs 6.5% conventional
$1,136
per month
$13,633
per year
$408,976
over 30 years
$407,828
interest saved
How gap financing works: The equity gap ($37,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($9,322 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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