Loan Comparison: 3.03% vs 6.5%
2842 Centennial, Littleton, CO 80123 · 2bd/1ba · $300,000
List Price
$300,000
Assumable Rate
3.03%
Remaining Balance
$252,182
Equity Gap
$46,641
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$46,641
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.03% (VA)
Blended Rate: 3.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.03% + gap loan
$1,311/moAssumed loan: $1,067/mo
Gap financing: $243/mo
$491less per month with the assumable
Your Savings on This Property
2842 Centennial, Littleton · 3.03% VA vs 6.5% conventional
$491
per month
$5,890
per year
$176,691
over 30 years
$175,514
interest saved
How gap financing works: The equity gap ($46,641) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($31,641 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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