Loan Comparison: 2.98% vs 6.5%
725 Alton Way, Denver, CO 80247 · 1bd/1ba · $239,900
List Price
$239,900
Assumable Rate
2.98%
Remaining Balance
$221,420
Equity Gap
$18,480
Loan Type
VAAdjust Your Scenario
$11,995
$11,995$18,480
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.98% + gap loan
$976/moAssumed loan: $931/mo
Gap financing: $45/mo
$464less per month with the assumable
Your Savings on This Property
725 Alton Way, Denver · 2.98% VA vs 6.5% conventional
$464
per month
$5,568
per year
$167,055
over 30 years
$167,055
interest saved
How gap financing works: The equity gap ($18,480) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($6,485 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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