Loan Comparison: 3.56% vs 6.5%
3437 63rd Place, Denver, CO 80214 · 2bd/2ba · $439,000
List Price
$439,000
Assumable Rate
3.56%
Remaining Balance
$388,644
Equity Gap
$50,356
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$50,356
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 3.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 3.56% + gap loan
$1,957/moAssumed loan: $1,758/mo
Gap financing: $199/mo
$679less per month with the assumable
Your Savings on This Property
3437 63rd Place, Denver · 3.56% VA vs 6.5% conventional
$679
per month
$8,150
per year
$244,509
over 30 years
$244,509
interest saved
How gap financing works: The equity gap ($50,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($28,406 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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