Loan Comparison: 3.06% vs 6.5%
7220 Avrum Drive, Denver, CO 80221 · 2bd/2ba · $475,000
List Price
$475,000
Assumable Rate
3.06%
Remaining Balance
$386,303
Equity Gap
$88,696
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$88,696
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.06% + gap loan
$2,095/moAssumed loan: $1,641/mo
Gap financing: $454/mo
$757less per month with the assumable
Your Savings on This Property
7220 Avrum Drive, Denver · 3.06% VA vs 6.5% conventional
$757
per month
$9,083
per year
$272,484
over 30 years
$272,483
interest saved
How gap financing works: The equity gap ($88,696) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($64,946 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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