Loan Comparison: 4.48% vs 6.5%
639 Galapago Street, Denver, CO 80204 · 10bd/5ba · $799,000
List Price
$799,000
Assumable Rate
4.48%
Remaining Balance
$738,918
Equity Gap
$60,081
Loan Type
VAAdjust Your Scenario
$39,950
$39,950$60,081
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,798/moAssumable @ 4.48% + gap loan
$3,876/moAssumed loan: $3,735/mo
Gap financing: $141/mo
$922less per month with the assumable
Your Savings on This Property
639 Galapago Street, Denver · 4.48% VA vs 6.5% conventional
$922
per month
$11,061
per year
$331,827
over 30 years
$331,826
interest saved
How gap financing works: The equity gap ($60,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,950, 5% of purchase price) and a second mortgage for the rest ($20,131 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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