Loan Comparison: 3.01% vs 6.5%
1165 Rosemary Street, Denver, CO 80246 · 3bd/4ba · $700,000
List Price
$700,000
Assumable Rate
3.01%
Remaining Balance
$580,964
Equity Gap
$119,035
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$119,035
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.01% (VA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.01% + gap loan
$3,040/moAssumed loan: $2,453/mo
Gap financing: $588/mo
$1,163less per month with the assumable
Your Savings on This Property
1165 Rosemary Street, Denver · 3.01% VA vs 6.5% conventional
$1,163
per month
$13,958
per year
$418,740
over 30 years
$418,739
interest saved
How gap financing works: The equity gap ($119,035) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($84,035 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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