Loan Comparison: 3.97% vs 6.5%
495 Dayton Street, Denver, CO 80247 · 3bd/3ba · $199,000
List Price
$199,000
Assumable Rate
3.97%
Remaining Balance
$130,631
Equity Gap
$68,368
Loan Type
VAAdjust Your Scenario
$9,950
$9,950$68,368
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.97% (VA)
Blended Rate: 5.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,195/moAssumable @ 3.97% + gap loan
$1,030/moAssumed loan: $621/mo
Gap financing: $408/mo
$165less per month with the assumable
Your Savings on This Property
495 Dayton Street, Denver · 3.97% VA vs 6.5% conventional
$165
per month
$1,981
per year
$59,422
over 30 years
$59,421
interest saved
How gap financing works: The equity gap ($68,368) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,950, 5% of purchase price) and a second mortgage for the rest ($58,418 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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