Loan Comparison: 2.54% vs 6.5%
3437 63rd Place, Denver, CO 80221 · 3bd/2ba · $439,000
List Price
$439,000
Assumable Rate
2.54%
Remaining Balance
$382,488
Equity Gap
$56,511
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$56,511
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.54% (VA)
Blended Rate: 2.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 2.54% + gap loan
$1,761/moAssumed loan: $1,519/mo
Gap financing: $242/mo
$875less per month with the assumable
Your Savings on This Property
3437 63rd Place, Denver · 2.54% VA vs 6.5% conventional
$875
per month
$10,502
per year
$315,046
over 30 years
$315,045
interest saved
How gap financing works: The equity gap ($56,511) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($34,561 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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