Loan Comparison: 3.25% vs 6.5%
2001 Lincoln Street, Denver, CO 80202 · 4bd/1ba · $1,050,000
List Price
$1,050,000
Assumable Rate
3.25%
Remaining Balance
$760,661
Equity Gap
$289,339
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$289,339
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (VA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 3.25% + gap loan
$4,966/moAssumed loan: $3,310/mo
Gap financing: $1,656/mo
$1,338less per month with the assumable
Your Savings on This Property
2001 Lincoln Street, Denver · 3.25% VA vs 6.5% conventional
$1,338
per month
$16,061
per year
$481,832
over 30 years
$481,832
interest saved
How gap financing works: The equity gap ($289,339) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($236,839 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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