Loan Comparison: 2.98% vs 6.5%
8550 10th, Lakewood, CO 80215 · 3bd/3ba · $535,000
List Price
$535,000
Assumable Rate
2.98%
Remaining Balance
$433,610
Equity Gap
$231,390
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$231,390
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.98% + gap loan
$3,397/moAssumed loan: $1,823/mo
Gap financing: $1,574/mo
Your Savings on This Property
8550 10th, Lakewood · 2.98% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$63,594
interest saved
How gap financing works: The equity gap ($231,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($204,640 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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