Loan Comparison: 2.75% vs 6.5%
5505 117th Circle, Denver, CO 80233 · 3bd/3ba · $523,000
List Price
$523,000
Assumable Rate
2.75%
Remaining Balance
$489,281
Equity Gap
$33,718
Loan Type
VAAdjust Your Scenario
$26,150
$26,150$33,718
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 2.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,140/moAssumable @ 2.75% + gap loan
$2,050/moAssumed loan: $1,997/mo
Gap financing: $53/mo
$1,090less per month with the assumable
Your Savings on This Property
5505 117th Circle, Denver · 2.75% VA vs 6.5% conventional
$1,090
per month
$13,081
per year
$392,424
over 30 years
$392,423
interest saved
How gap financing works: The equity gap ($33,718) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,150, 5% of purchase price) and a second mortgage for the rest ($7,568 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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