Loan Comparison: 3.45% vs 6.5%
5368 Argonne Street, Denver, CO 80249 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.45%
Remaining Balance
$257,395
Equity Gap
$157,604
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$157,604
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.45% + gap loan
$2,106/moAssumed loan: $1,149/mo
Gap financing: $957/mo
$386less per month with the assumable
Your Savings on This Property
5368 Argonne Street, Denver · 3.45% VA vs 6.5% conventional
$386
per month
$4,637
per year
$139,096
over 30 years
$139,095
interest saved
How gap financing works: The equity gap ($157,604) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($136,854 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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