Loan Comparison: 5.09% vs 6.5%
3105 Fillmore Street, Denver, CO 80229 · 2bd/2ba · $565,000
List Price
$565,000
Assumable Rate
5.09%
Remaining Balance
$510,474
Equity Gap
$54,526
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$54,526
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.09% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 5.09% + gap loan
$2,952/moAssumed loan: $2,768/mo
Gap financing: $184/mo
$440less per month with the assumable
Your Savings on This Property
3105 Fillmore Street, Denver · 5.09% VA vs 6.5% conventional
$440
per month
$5,285
per year
$158,550
over 30 years
$158,550
interest saved
How gap financing works: The equity gap ($54,526) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($26,276 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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