Loan Comparison: 2.87% vs 6.5%
1111 Ash Street, Denver, CO 80220 · 2bd/2ba · $239,900
List Price
$239,900
Assumable Rate
2.87%
Remaining Balance
$220,366
Equity Gap
$19,533
Loan Type
VAAdjust Your Scenario
$11,995
$11,995$19,533
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.87% + gap loan
$966/moAssumed loan: $914/mo
Gap financing: $53/mo
$474less per month with the assumable
Your Savings on This Property
1111 Ash Street, Denver · 2.87% VA vs 6.5% conventional
$474
per month
$5,689
per year
$170,681
over 30 years
$170,680
interest saved
How gap financing works: The equity gap ($19,533) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($7,538 at 7.5%). 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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