Loan Comparison: 3.33% vs 6.5%
100 Park Avenue, Denver, CO 80205 · 2bd/3ba · $280,000
List Price
$280,000
Assumable Rate
3.33%
Remaining Balance
$259,498
Equity Gap
$20,501
Loan Type
VAAdjust Your Scenario
$14,000
$14,000$20,501
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.33% + gap loan
$1,186/moAssumed loan: $1,141/mo
Gap financing: $45/mo
$495less per month with the assumable
Your Savings on This Property
100 Park Avenue, Denver · 3.33% VA vs 6.5% conventional
$495
per month
$5,941
per year
$178,225
over 30 years
$178,224
interest saved
How gap financing works: The equity gap ($20,501) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($6,501 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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