Loan Comparison: 2.77% vs 6.5%
5299 Netherland Street, Denver, CO 80249 · 4bd/3ba · $699,900
List Price
$699,900
Assumable Rate
2.77%
Remaining Balance
$372,009
Equity Gap
$327,891
Loan Type
VAAdjust Your Scenario
$34,995
$34,995$327,891
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.77% + gap loan
$3,571/moAssumed loan: $1,523/mo
Gap financing: $2,048/mo
$632less per month with the assumable
Your Savings on This Property
5299 Netherland Street, Denver · 2.77% VA vs 6.5% conventional
$632
per month
$7,585
per year
$227,535
over 30 years
$227,535
interest saved
How gap financing works: The equity gap ($327,891) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($292,896 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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