Loan Comparison: 2.98% vs 6.5%
725 Clinton, Denver, CO 80247 · 2bd/1ba · $169,900
List Price
$169,900
Assumable Rate
2.98%
Remaining Balance
$117,180
Equity Gap
$52,720
Loan Type
VAAdjust Your Scenario
$8,495
$8,495$52,720
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,020/moAssumable @ 2.98% + gap loan
$833/moAssumed loan: $493/mo
Gap financing: $340/mo
$187less per month with the assumable
Your Savings on This Property
725 Clinton, Denver · 2.98% VA vs 6.5% conventional
$187
per month
$2,248
per year
$67,451
over 30 years
$67,451
interest saved
How gap financing works: The equity gap ($52,720) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,495, 5% of purchase price) and a second mortgage for the rest ($44,225 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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