Loan Comparison: 6.39% vs 6.5%
18260 51st Place, Denver, CO 80249 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
6.39%
Remaining Balance
$387,891
Equity Gap
$62,109
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$62,109
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (VA)
Blended Rate: 6.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.39% + gap loan
$2,701/moAssumed loan: $2,424/mo
Gap financing: $277/mo
$1less per month with the assumable
Your Savings on This Property
18260 51st Place, Denver · 6.39% VA vs 6.5% conventional
$1
per month
$17
per year
$503
over 30 years
$503
interest saved
How gap financing works: The equity gap ($62,109) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($39,609 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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