Loan Comparison: 5% vs 6.5%
1147 Boston, Denver, CO 80247 · 3bd/3ba · $470,000
List Price
$470,000
Assumable Rate
5%
Remaining Balance
$89,500
Equity Gap
$376,424
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$376,424
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (VA)
Blended Rate: 7.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 5% + gap loan
$3,194/moAssumed loan: $480/mo
Gap financing: $2,714/mo
Your Savings on This Property
1147 Boston, Denver · 5% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($376,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($352,924 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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