Loan Comparison: 3.66% vs 6.5%
1085 Lafayette Street, Denver, CO 80218 · 7bd/3ba · $449,600
List Price
$449,600
Assumable Rate
3.66%
Remaining Balance
$213,466
Equity Gap
$236,133
Loan Type
VAAdjust Your Scenario
$22,480
$22,480$236,133
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (VA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,700/moAssumable @ 3.66% + gap loan
$2,472/moAssumed loan: $978/mo
Gap financing: $1,494/mo
$228less per month with the assumable
Your Savings on This Property
1085 Lafayette Street, Denver · 3.66% VA vs 6.5% conventional
$228
per month
$2,737
per year
$82,106
over 30 years
$82,105
interest saved
How gap financing works: The equity gap ($236,133) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,480, 5% of purchase price) and a second mortgage for the rest ($213,653 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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