Loan Comparison: 2.96% vs 6.5%
8441 Devonshire Boulevard, Denver, CO 80229 · 1bd/1ba · $440,000
List Price
$440,000
Assumable Rate
2.96%
Remaining Balance
$326,830
Equity Gap
$113,169
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$113,169
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.96% + gap loan
$2,008/moAssumed loan: $1,371/mo
Gap financing: $637/mo
$634less per month with the assumable
Your Savings on This Property
8441 Devonshire Boulevard, Denver · 2.96% VA vs 6.5% conventional
$634
per month
$7,604
per year
$228,128
over 30 years
$228,127
interest saved
How gap financing works: The equity gap ($113,169) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($91,169 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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