Loan Comparison: 2.78% vs 6.5%
1625 Larimer Street, Denver, CO 80202 · 1bd/1ba · $399,000
List Price
$399,000
Assumable Rate
2.78%
Remaining Balance
$347,513
Equity Gap
$51,486
Loan Type
VAAdjust Your Scenario
$19,950
$19,950$51,486
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 3.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 2.78% + gap loan
$1,645/moAssumed loan: $1,424/mo
Gap financing: $221/mo
$751less per month with the assumable
Your Savings on This Property
1625 Larimer Street, Denver · 2.78% VA vs 6.5% conventional
$751
per month
$9,014
per year
$270,407
over 30 years
$270,406
interest saved
How gap financing works: The equity gap ($51,486) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($31,536 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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