Loan Comparison: 2.77% vs 6.5%
3355 Flower, Lakewood, CO 80227 · 2bd/1ba · $240,000
List Price
$240,000
Assumable Rate
2.77%
Remaining Balance
$207,668
Equity Gap
$32,332
Loan Type
VAAdjust Your Scenario
$12,000
$12,000$32,332
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.77% + gap loan
$1,006/moAssumed loan: $850/mo
Gap financing: $156/mo
$435less per month with the assumable
Your Savings on This Property
3355 Flower, Lakewood · 2.77% VA vs 6.5% conventional
$435
per month
$5,218
per year
$156,525
over 30 years
$156,525
interest saved
How gap financing works: The equity gap ($32,332) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($20,332 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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