Loan Comparison: 2.94% vs 6.5%
3034 Wilson Court, Denver, CO 80205 · 2bd/2ba · $847,000
List Price
$847,000
Assumable Rate
2.94%
Remaining Balance
$666,065
Equity Gap
$180,934
Loan Type
VAAdjust Your Scenario
$42,350
$42,350$180,934
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,086/moAssumable @ 2.94% + gap loan
$3,756/moAssumed loan: $2,787/mo
Gap financing: $969/mo
$1,330less per month with the assumable
Your Savings on This Property
3034 Wilson Court, Denver · 2.94% VA vs 6.5% conventional
$1,330
per month
$15,963
per year
$478,903
over 30 years
$478,902
interest saved
How gap financing works: The equity gap ($180,934) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,350, 5% of purchase price) and a second mortgage for the rest ($138,584 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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