Loan Comparison: 2.99% vs 6.5%
9380 Center Avenue, Denver, CO 80247 · 2bd/1ba · $165,000
List Price
$165,000
Assumable Rate
2.99%
Remaining Balance
$147,148
Equity Gap
$17,851
Loan Type
VAAdjust Your Scenario
$8,250
$8,250$17,851
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$991/moAssumable @ 2.99% + gap loan
$687/moAssumed loan: $620/mo
Gap financing: $67/mo
$304less per month with the assumable
Your Savings on This Property
9380 Center Avenue, Denver · 2.99% VA vs 6.5% conventional
$304
per month
$3,649
per year
$109,457
over 30 years
$109,456
interest saved
How gap financing works: The equity gap ($17,851) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,250, 5% of purchase price) and a second mortgage for the rest ($9,601 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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