Loan Comparison: 3.08% vs 6.5%
795 Alton Way, Denver, CO 80247 · 2bd/1ba · $238,500
List Price
$238,500
Assumable Rate
3.08%
Remaining Balance
$207,473
Equity Gap
$31,027
Loan Type
VAAdjust Your Scenario
$11,925
$11,925$31,027
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,432/moAssumable @ 3.08% + gap loan
$1,017/moAssumed loan: $884/mo
Gap financing: $134/mo
$415less per month with the assumable
Your Savings on This Property
795 Alton Way, Denver · 3.08% VA vs 6.5% conventional
$415
per month
$4,978
per year
$149,347
over 30 years
$149,347
interest saved
How gap financing works: The equity gap ($31,027) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,925, 5% of purchase price) and a second mortgage for the rest ($19,102 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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