Loan Comparison: 2.89% vs 6.5%
151 Salina, Lafayette, CO 80026 · 3bd/3ba · $714,500
List Price
$714,500
Assumable Rate
2.89%
Remaining Balance
$448,520
Equity Gap
$264,932
Loan Type
VAAdjust Your Scenario
$35,725
$35,725$264,932
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,290/moAssumable @ 2.89% + gap loan
$3,627/moAssumed loan: $1,864/mo
Gap financing: $1,762/mo
$663less per month with the assumable
Your Savings on This Property
151 Salina, Lafayette · 2.89% VA vs 6.5% conventional
$663
per month
$7,961
per year
$238,839
over 30 years
$237,791
interest saved
How gap financing works: The equity gap ($264,932) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,725, 5% of purchase price) and a second mortgage for the rest ($229,207 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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