Loan Comparison: 6.11% vs 6.5%
260 Pierce Street, Denver, CO 80226 · 3bd/2ba · $800,000
List Price
$800,000
Assumable Rate
6.11%
Remaining Balance
$712,017
Equity Gap
$87,982
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$87,982
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 6.11% + gap loan
$4,655/moAssumed loan: $4,319/mo
Gap financing: $335/mo
$149less per month with the assumable
Your Savings on This Property
260 Pierce Street, Denver · 6.11% VA vs 6.5% conventional
$149
per month
$1,786
per year
$53,580
over 30 years
$53,579
interest saved
How gap financing works: The equity gap ($87,982) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($47,982 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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