Loan Comparison: 3.02% vs 6.5%
4247 Grant, Englewood, CO 80113 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.02%
Remaining Balance
$300,436
Equity Gap
$314,600
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$314,600
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.02% + gap loan
$3,477/moAssumed loan: $1,270/mo
Gap financing: $2,208/mo
Your Savings on This Property
4247 Grant, Englewood · 3.02% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$2,076
interest saved
How gap financing works: The equity gap ($314,600) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($287,100 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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