Loan Comparison: 3.45% vs 6.5%
605 Alton Way, Denver, CO 80247 · 3bd/4ba · $194,500
List Price
$194,500
Assumable Rate
3.45%
Remaining Balance
$158,509
Equity Gap
$35,990
Loan Type
VAAdjust Your Scenario
$9,725
$9,725$35,990
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,168/moAssumable @ 3.45% + gap loan
$891/moAssumed loan: $707/mo
Gap financing: $184/mo
$277less per month with the assumable
Your Savings on This Property
605 Alton Way, Denver · 3.45% VA vs 6.5% conventional
$277
per month
$3,323
per year
$99,682
over 30 years
$99,681
interest saved
How gap financing works: The equity gap ($35,990) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,725, 5% of purchase price) and a second mortgage for the rest ($26,265 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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