Loan Comparison: 2.9% vs 6.5%
1433 Ivy Street, Denver, CO 80229 · 2bd/2ba · $335,000
List Price
$335,000
Assumable Rate
2.9%
Remaining Balance
$254,993
Equity Gap
$80,007
Loan Type
VAAdjust Your Scenario
$16,750
$16,750$80,007
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 2.9% + gap loan
$1,504/moAssumed loan: $1,061/mo
Gap financing: $442/mo
$508less per month with the assumable
Your Savings on This Property
1433 Ivy Street, Denver · 2.9% VA vs 6.5% conventional
$508
per month
$6,095
per year
$182,843
over 30 years
$182,843
interest saved
How gap financing works: The equity gap ($80,007) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($63,257 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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