Loan Comparison: 3.02% vs 6.5%
10115 Yampa, Commerce City, CO 80022 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
3.02%
Remaining Balance
$262,088
Equity Gap
$197,912
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$197,912
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.02% + gap loan
$2,453/moAssumed loan: $1,108/mo
Gap financing: $1,345/mo
$309less per month with the assumable
Your Savings on This Property
10115 Yampa, Commerce City · 3.02% VA vs 6.5% conventional
$309
per month
$3,713
per year
$111,389
over 30 years
$111,389
interest saved
How gap financing works: The equity gap ($197,912) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($174,912 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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