Loan Comparison: 2.96% vs 6.5%
7091 Leyden, Commerce City, CO 80022 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
2.96%
Remaining Balance
$221,316
Equity Gap
$149,178
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$149,178
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.96% + gap loan
$1,933/moAssumed loan: $928/mo
Gap financing: $1,005/mo
$289less per month with the assumable
Your Savings on This Property
7091 Leyden, Commerce City · 2.96% VA vs 6.5% conventional
$289
per month
$3,463
per year
$103,899
over 30 years
$104,393
interest saved
How gap financing works: The equity gap ($149,178) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($130,678 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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