Loan Comparison: 2.98% vs 6.5%
7440 Blackhawk, Englewood, CO 80112 · 2bd/2ba · $342,500
List Price
$342,500
Assumable Rate
2.98%
Remaining Balance
$310,506
Equity Gap
$30,616
Loan Type
VAAdjust Your Scenario
$17,125
$17,125$30,616
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,057/moAssumable @ 2.98% + gap loan
$1,409/moAssumed loan: $1,306/mo
Gap financing: $104/mo
$647less per month with the assumable
Your Savings on This Property
7440 Blackhawk, Englewood · 2.98% VA vs 6.5% conventional
$647
per month
$7,765
per year
$232,955
over 30 years
$231,577
interest saved
How gap financing works: The equity gap ($30,616) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,125, 5% of purchase price) and a second mortgage for the rest ($13,491 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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