Loan Comparison: 4.2% vs 6.5%
2640 Race Street, Denver, CO 80205 · 3bd/2ba · $599,000
List Price
$599,000
Assumable Rate
4.2%
Remaining Balance
$257,978
Equity Gap
$341,022
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$341,022
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 4.2% + gap loan
$3,437/moAssumed loan: $1,262/mo
Gap financing: $2,175/mo
$160less per month with the assumable
Your Savings on This Property
2640 Race Street, Denver · 4.2% VA vs 6.5% conventional
$160
per month
$1,922
per year
$57,660
over 30 years
$57,660
interest saved
How gap financing works: The equity gap ($341,022) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($311,072 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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