Loan Comparison: 2.66% vs 6.5%
10700 Reunion, Commerce City, CO 80022 · 3bd/3ba · $520,000
List Price
$520,000
Assumable Rate
2.66%
Remaining Balance
$420,335
Equity Gap
$101,662
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$101,662
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (VA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.66% + gap loan
$2,278/moAssumed loan: $1,696/mo
Gap financing: $582/mo
$845less per month with the assumable
Your Savings on This Property
10700 Reunion, Commerce City · 2.66% VA vs 6.5% conventional
$845
per month
$10,136
per year
$304,068
over 30 years
$306,065
interest saved
How gap financing works: The equity gap ($101,662) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($75,662 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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