Loan Comparison: 2.74% vs 6.5%
7292 Costilla, Littleton, CO 80120 · 4bd/3ba · $849,900
List Price
$849,900
Assumable Rate
2.74%
Remaining Balance
$375,823
Equity Gap
$473,201
Loan Type
VAAdjust Your Scenario
$42,495
$42,495$473,201
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 2.74% + gap loan
$4,844/moAssumed loan: $1,532/mo
Gap financing: $3,312/mo
$259less per month with the assumable
Your Savings on This Property
7292 Costilla, Littleton · 2.74% VA vs 6.5% conventional
$259
per month
$3,112
per year
$93,354
over 30 years
$92,478
interest saved
How gap financing works: The equity gap ($473,201) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($430,706 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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