Loan Comparison: 7.03% vs 6.5%
2331 Wolff Street, Denver, CO 80219 · 2bd/1ba · $575,000
List Price
$575,000
Assumable Rate
7.03%
Remaining Balance
$434,706
Equity Gap
$140,294
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$140,294
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.03% (VA)
Blended Rate: 7.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 7.03% + gap loan
$3,681/moAssumed loan: $2,901/mo
Gap financing: $780/mo
Your Savings on This Property
2331 Wolff Street, Denver · 7.03% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($140,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($111,544 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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