Loan Comparison: 2.94% vs 6.5%
8939 Winona, Westminster, CO 80031 · 4bd/3ba · $561,000
List Price
$561,000
Assumable Rate
2.94%
Remaining Balance
$272,882
Equity Gap
$289,383
Loan Type
VAAdjust Your Scenario
$28,050
$28,050$289,383
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,369/moAssumable @ 2.94% + gap loan
$3,151/moAssumed loan: $1,142/mo
Gap financing: $2,009/mo
$218less per month with the assumable
Your Savings on This Property
8939 Winona, Westminster · 2.94% VA vs 6.5% conventional
$218
per month
$2,610
per year
$78,304
over 30 years
$79,569
interest saved
How gap financing works: The equity gap ($289,383) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,050, 5% of purchase price) and a second mortgage for the rest ($261,333 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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