Loan Comparison: 2.21% vs 6.5%
1811 Quebec Way, Denver, CO 80231 · 4bd/3ba · $300,000
List Price
$300,000
Assumable Rate
2.21%
Remaining Balance
$74,850
Equity Gap
$225,149
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$225,149
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.21% (VA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.21% + gap loan
$1,754/moAssumed loan: $285/mo
Gap financing: $1,469/mo
$47less per month with the assumable
Your Savings on This Property
1811 Quebec Way, Denver · 2.21% VA vs 6.5% conventional
$47
per month
$569
per year
$17,069
over 30 years
$17,068
interest saved
How gap financing works: The equity gap ($225,149) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($210,149 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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