Loan Comparison: 2.88% vs 6.5%
6650 Harvard Avenue, Denver, CO 80224 · 2bd/4ba · $675,000
List Price
$675,000
Assumable Rate
2.88%
Remaining Balance
$585,489
Equity Gap
$89,510
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$89,510
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 2.88% + gap loan
$2,821/moAssumed loan: $2,431/mo
Gap financing: $390/mo
$1,233less per month with the assumable
Your Savings on This Property
6650 Harvard Avenue, Denver · 2.88% VA vs 6.5% conventional
$1,233
per month
$14,790
per year
$443,714
over 30 years
$443,713
interest saved
How gap financing works: The equity gap ($89,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($55,760 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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