Loan Comparison: 2.81% vs 6.5%
580 Clinton, Denver, CO 80247 · 2bd/2ba · $219,900
List Price
$219,900
Assumable Rate
2.81%
Remaining Balance
$162,383
Equity Gap
$57,516
Loan Type
VAAdjust Your Scenario
$10,995
$10,995$57,516
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,320/moAssumable @ 2.81% + gap loan
$1,026/moAssumed loan: $668/mo
Gap financing: $358/mo
$295less per month with the assumable
Your Savings on This Property
580 Clinton, Denver · 2.81% VA vs 6.5% conventional
$295
per month
$3,536
per year
$106,066
over 30 years
$106,065
interest saved
How gap financing works: The equity gap ($57,516) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,995, 5% of purchase price) and a second mortgage for the rest ($46,521 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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