Loan Comparison: 3.45% vs 6.5%
605 Alton, Denver, CO 80247 · 2bd/1ba · $199,900
List Price
$199,900
Assumable Rate
3.45%
Remaining Balance
$158,864
Equity Gap
$41,035
Loan Type
VAAdjust Your Scenario
$9,995
$9,995$41,035
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 3.45% + gap loan
$948/moAssumed loan: $709/mo
Gap financing: $239/mo
$253less per month with the assumable
Your Savings on This Property
605 Alton, Denver · 3.45% VA vs 6.5% conventional
$253
per month
$3,033
per year
$90,977
over 30 years
$90,976
interest saved
How gap financing works: The equity gap ($41,035) 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 ($31,040 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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