Loan Comparison: 3.02% vs 6.5%
891 14th Street, Denver, CO 80202 · 4bd/2ba · $750,000
List Price
$750,000
Assumable Rate
3.02%
Remaining Balance
$358,507
Equity Gap
$391,492
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$391,492
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.02% + gap loan
$3,991/moAssumed loan: $1,515/mo
Gap financing: $2,475/mo
$513less per month with the assumable
Your Savings on This Property
891 14th Street, Denver · 3.02% VA vs 6.5% conventional
$513
per month
$6,156
per year
$184,670
over 30 years
$184,669
interest saved
How gap financing works: The equity gap ($391,492) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($353,992 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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