Loan Comparison: 2.88% vs 6.5%
2600 Moline Street, Denver, CO 80013 · 3bd/3ba · $685,000
List Price
$685,000
Assumable Rate
2.88%
Remaining Balance
$375,463
Equity Gap
$309,536
Loan Type
VAAdjust Your Scenario
$34,250
$34,250$309,536
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 2.88% + gap loan
$3,484/moAssumed loan: $1,559/mo
Gap financing: $1,925/mo
$630less per month with the assumable
Your Savings on This Property
2600 Moline Street, Denver · 2.88% VA vs 6.5% conventional
$630
per month
$7,555
per year
$226,646
over 30 years
$226,645
interest saved
How gap financing works: The equity gap ($309,536) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($275,286 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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