Loan Comparison: 3.7% vs 6.5%
15475 Andrews Drive, Denver, CO 80239 · 2bd/2ba · $265,000
List Price
$265,000
Assumable Rate
3.7%
Remaining Balance
$212,680
Equity Gap
$52,320
Loan Type
VAAdjust Your Scenario
$13,250
$13,250$52,320
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,591/moAssumable @ 3.7% + gap loan
$1,252/moAssumed loan: $979/mo
Gap financing: $273/mo
$339less per month with the assumable
Your Savings on This Property
15475 Andrews Drive, Denver · 3.7% VA vs 6.5% conventional
$339
per month
$4,069
per year
$122,083
over 30 years
$122,083
interest saved
How gap financing works: The equity gap ($52,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,250, 5% of purchase price) and a second mortgage for the rest ($39,070 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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