Loan Comparison: 2.98% vs 6.5%
7440 Blackhawk, Englewood, CO 80112 · 2bd/2ba · $345,000
List Price
$345,000
Assumable Rate
2.98%
Remaining Balance
$311,196
Equity Gap
$33,116
Loan Type
VAAdjust Your Scenario
$17,250
$17,250$33,116
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 2.98% + gap loan
$1,431/moAssumed loan: $1,309/mo
Gap financing: $122/mo
$641less per month with the assumable
Your Savings on This Property
7440 Blackhawk, Englewood · 2.98% VA vs 6.5% conventional
$641
per month
$7,691
per year
$230,741
over 30 years
$230,053
interest saved
How gap financing works: The equity gap ($33,116) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($15,866 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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