Loan Comparison: 2.88% vs 6.5%
1860 Arkansas Avenue, Denver, CO 80223 · 2bd/1ba · $520,000
List Price
$520,000
Assumable Rate
2.88%
Remaining Balance
$475,303
Equity Gap
$44,697
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$44,697
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.88% + gap loan
$2,104/moAssumed loan: $1,973/mo
Gap financing: $131/mo
$1,018less per month with the assumable
Your Savings on This Property
1860 Arkansas Avenue, Denver · 2.88% VA vs 6.5% conventional
$1,018
per month
$12,221
per year
$366,630
over 30 years
$366,630
interest saved
How gap financing works: The equity gap ($44,697) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($18,697 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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