Loan Comparison: 2.68% vs 6.5%
7055 Virginia, Denver, CO 80224 · 3bd/3ba · $789,900
List Price
$789,900
Assumable Rate
2.68%
Remaining Balance
$380,680
Equity Gap
$404,808
Loan Type
VAAdjust Your Scenario
$39,495
$39,495$404,808
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,743/moAssumable @ 2.68% + gap loan
$4,349/moAssumed loan: $1,540/mo
Gap financing: $2,809/mo
$394less per month with the assumable
Your Savings on This Property
7055 Virginia, Denver · 2.68% VA vs 6.5% conventional
$394
per month
$4,729
per year
$141,881
over 30 years
$137,469
interest saved
How gap financing works: The equity gap ($404,808) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,495, 5% of purchase price) and a second mortgage for the rest ($365,313 at 8.5%). 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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