Loan Comparison: 2.88% vs 6.5%
11960 Singing Winds, Parker, CO 80138 · 5bd/5ba · $825,000
List Price
$825,000
Assumable Rate
2.88%
Remaining Balance
$719,781
Equity Gap
$105,219
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$105,219
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 2.88% + gap loan
$3,480/moAssumed loan: $2,988/mo
Gap financing: $492/mo
$1,474less per month with the assumable
Your Savings on This Property
11960 Singing Winds, Parker · 2.88% VA vs 6.5% conventional
$1,474
per month
$17,685
per year
$530,541
over 30 years
$530,541
interest saved
How gap financing works: The equity gap ($105,219) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($63,969 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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