Loan Comparison: 3.13% vs 6.5%
8692 Hawaii Drive, Denver, CO 80012 · 1bd/1ba · $825,000
List Price
$825,000
Assumable Rate
3.13%
Remaining Balance
$529,036
Equity Gap
$295,963
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$295,963
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 3.13% + gap loan
$4,049/moAssumed loan: $2,268/mo
Gap financing: $1,781/mo
$905less per month with the assumable
Your Savings on This Property
8692 Hawaii Drive, Denver · 3.13% VA vs 6.5% conventional
$905
per month
$10,862
per year
$325,851
over 30 years
$325,850
interest saved
How gap financing works: The equity gap ($295,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($254,713 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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