Loan Comparison: 2.89% vs 6.5%
1865 Downing Street, Denver, CO 80210 · 5bd/4ba · $819,000
List Price
$819,000
Assumable Rate
2.89%
Remaining Balance
$417,456
Equity Gap
$401,544
Loan Type
VAAdjust Your Scenario
$40,950
$40,950$401,544
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,918/moAssumable @ 2.89% + gap loan
$4,257/moAssumed loan: $1,735/mo
Gap financing: $2,521/mo
$661less per month with the assumable
Your Savings on This Property
1865 Downing Street, Denver · 2.89% VA vs 6.5% conventional
$661
per month
$7,934
per year
$238,009
over 30 years
$238,009
interest saved
How gap financing works: The equity gap ($401,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,950, 5% of purchase price) and a second mortgage for the rest ($360,594 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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