Loan Comparison: 2.74% vs 6.5%
925 Lincoln Street, Denver, CO 80203 · 2bd/2ba · $340,000
List Price
$340,000
Assumable Rate
2.74%
Remaining Balance
$309,360
Equity Gap
$30,639
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$30,639
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 2.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.74% + gap loan
$1,357/moAssumed loan: $1,261/mo
Gap financing: $95/mo
$685less per month with the assumable
Your Savings on This Property
925 Lincoln Street, Denver · 2.74% VA vs 6.5% conventional
$685
per month
$8,219
per year
$246,570
over 30 years
$246,569
interest saved
How gap financing works: The equity gap ($30,639) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($13,639 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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