Loan Comparison: 3.02% vs 6.5%
4100 Albion Street, Denver, CO 80216 · 2bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.02%
Remaining Balance
$404,213
Equity Gap
$145,787
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$145,787
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.02% + gap loan
$2,536/moAssumed loan: $1,709/mo
Gap financing: $827/mo
$767less per month with the assumable
Your Savings on This Property
4100 Albion Street, Denver · 3.02% VA vs 6.5% conventional
$767
per month
$9,203
per year
$276,096
over 30 years
$276,096
interest saved
How gap financing works: The equity gap ($145,787) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($118,287 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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