Loan Comparison: 3.08% vs 6.5%
11002 Unity, Commerce City, CO 80022 · 4bd/3ba · $580,000
List Price
$580,000
Assumable Rate
3.08%
Remaining Balance
$454,851
Equity Gap
$124,138
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$124,138
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 3.08% + gap loan
$2,669/moAssumed loan: $1,937/mo
Gap financing: $732/mo
$814less per month with the assumable
Your Savings on This Property
11002 Unity, Commerce City · 3.08% VA vs 6.5% conventional
$814
per month
$9,766
per year
$292,973
over 30 years
$291,962
interest saved
How gap financing works: The equity gap ($124,138) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($95,138 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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