Loan Comparison: 4.2% vs 6.5%
1680 112th Place, Denver, CO 80233 · 6bd/4ba · $395,000
List Price
$395,000
Assumable Rate
4.2%
Remaining Balance
$273,234
Equity Gap
$121,765
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$121,765
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (VA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.2% + gap loan
$2,049/moAssumed loan: $1,336/mo
Gap financing: $713/mo
$322less per month with the assumable
Your Savings on This Property
1680 112th Place, Denver · 4.2% VA vs 6.5% conventional
$322
per month
$3,868
per year
$116,053
over 30 years
$116,052
interest saved
How gap financing works: The equity gap ($121,765) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($102,015 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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