Loan Comparison: 2.81% vs 6.5%
2150 Kerry, Mead, CO 80542 · 3bd/2ba · $540,000
List Price
$540,000
Assumable Rate
2.81%
Remaining Balance
$428,472
Equity Gap
$112,519
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$112,519
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 2.81% + gap loan
$2,420/moAssumed loan: $1,763/mo
Gap financing: $658/mo
$822less per month with the assumable
Your Savings on This Property
2150 Kerry, Mead · 2.81% VA vs 6.5% conventional
$822
per month
$9,865
per year
$295,954
over 30 years
$296,945
interest saved
How gap financing works: The equity gap ($112,519) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($85,519 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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