Loan Comparison: 2.96% vs 6.5%
7091 Leyden, Commerce City, CO 80022 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
2.96%
Remaining Balance
$220,326
Equity Gap
$54,178
Loan Type
VAAdjust Your Scenario
$13,750
$13,750$54,178
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 2.96% + gap loan
$1,235/moAssumed loan: $924/mo
Gap financing: $311/mo
$416less per month with the assumable
Your Savings on This Property
7091 Leyden, Commerce City · 2.96% VA vs 6.5% conventional
$416
per month
$4,995
per year
$149,855
over 30 years
$149,359
interest saved
How gap financing works: The equity gap ($54,178) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($40,428 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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