Loan Comparison: 2.89% vs 6.5%
17302 Lindon, Parker, CO 80134 · 3bd/3ba · $555,000
List Price
$555,000
Assumable Rate
2.89%
Remaining Balance
$219,469
Equity Gap
$335,531
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$335,531
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 2.89% + gap loan
$3,279/moAssumed loan: $912/mo
Gap financing: $2,367/mo
$54less per month with the assumable
Your Savings on This Property
17302 Lindon, Parker · 2.89% VA vs 6.5% conventional
$54
per month
$644
per year
$19,328
over 30 years
$19,328
interest saved
How gap financing works: The equity gap ($335,531) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($307,781 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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