Loan Comparison: 2.98% vs 6.5%
725 Clinton Street, Denver, CO 80247 · 3bd/3ba · $149,000
List Price
$149,000
Assumable Rate
2.98%
Remaining Balance
$115,633
Equity Gap
$33,366
Loan Type
VAAdjust Your Scenario
$7,450
$7,450$33,366
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$895/moAssumable @ 2.98% + gap loan
$667/moAssumed loan: $486/mo
Gap financing: $181/mo
$227less per month with the assumable
Your Savings on This Property
725 Clinton Street, Denver · 2.98% VA vs 6.5% conventional
$227
per month
$2,727
per year
$81,798
over 30 years
$81,797
interest saved
How gap financing works: The equity gap ($33,366) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,450, 5% of purchase price) and a second mortgage for the rest ($25,916 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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