Loan Comparison: 3.2% vs 6.5%
21061 Randolph Place, Denver, CO 80249 · 3bd/2ba · $460,000
List Price
$460,000
Assumable Rate
3.2%
Remaining Balance
$145,132
Equity Gap
$314,868
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$314,868
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.2% (VA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.2% + gap loan
$2,668/moAssumed loan: $628/mo
Gap financing: $2,041/mo
$94less per month with the assumable
Your Savings on This Property
21061 Randolph Place, Denver · 3.2% VA vs 6.5% conventional
$94
per month
$1,124
per year
$33,734
over 30 years
$33,734
interest saved
How gap financing works: The equity gap ($314,868) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($291,868 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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