Loan Comparison: 3.06% vs 6.5%
495 Dayton Street, Denver, CO 80247 · 2bd/1ba · $289,000
List Price
$289,000
Assumable Rate
3.06%
Remaining Balance
$245,097
Equity Gap
$43,902
Loan Type
VAAdjust Your Scenario
$14,450
$14,450$43,902
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,735/moAssumable @ 3.06% + gap loan
$1,247/moAssumed loan: $1,041/mo
Gap financing: $206/mo
$488less per month with the assumable
Your Savings on This Property
495 Dayton Street, Denver · 3.06% VA vs 6.5% conventional
$488
per month
$5,857
per year
$175,724
over 30 years
$175,723
interest saved
How gap financing works: The equity gap ($43,902) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,450, 5% of purchase price) and a second mortgage for the rest ($29,452 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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