Loan Comparison: 4.05% vs 6.5%
100 Park Avenue, Denver, CO 80205 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
4.05%
Remaining Balance
$246,622
Equity Gap
$38,378
Loan Type
VAAdjust Your Scenario
$14,250
$14,250$38,378
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (VA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 4.05% + gap loan
$1,353/moAssumed loan: $1,185/mo
Gap financing: $169/mo
$358less per month with the assumable
Your Savings on This Property
100 Park Avenue, Denver · 4.05% VA vs 6.5% conventional
$358
per month
$4,297
per year
$128,911
over 30 years
$128,911
interest saved
How gap financing works: The equity gap ($38,378) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($24,128 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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