Loan Comparison: 2.81% vs 6.5%
580 Clinton, Denver, CO 80247 · 2bd/2ba · $199,900
List Price
$199,900
Assumable Rate
2.81%
Remaining Balance
$162,013
Equity Gap
$35,677
Loan Type
VAAdjust Your Scenario
$9,995
$9,995$35,677
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 2.81% + gap loan
$864/moAssumed loan: $667/mo
Gap financing: $197/mo
$336less per month with the assumable
Your Savings on This Property
580 Clinton, Denver · 2.81% VA vs 6.5% conventional
$336
per month
$4,036
per year
$121,065
over 30 years
$118,855
interest saved
How gap financing works: The equity gap ($35,677) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,995, 5% of purchase price) and a second mortgage for the rest ($25,682 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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