Loan Comparison: 6.85% vs 6.5%
795 Alton Way, Denver, CO 80247 · 2bd/2ba · $127,000
List Price
$127,000
Assumable Rate
6.85%
Remaining Balance
$88,224
Equity Gap
$38,776
Loan Type
VAAdjust Your Scenario
$6,350
$6,350$38,776
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.85% (VA)
Blended Rate: 7.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$763/moAssumable @ 6.85% + gap loan
$805/moAssumed loan: $578/mo
Gap financing: $227/mo
Your Savings on This Property
795 Alton Way, Denver · 6.85% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($38,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($6,350, 5% of purchase price) and a second mortgage for the rest ($32,426 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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