Loan Comparison: 3.45% vs 6.5%
605 Alton, Denver, CO 80247 · 2bd/1ba · $205,000
List Price
$205,000
Assumable Rate
3.45%
Remaining Balance
$160,275
Equity Gap
$44,725
Loan Type
VAAdjust Your Scenario
$10,250
$10,250$44,725
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,231/moAssumable @ 3.45% + gap loan
$980/moAssumed loan: $715/mo
Gap financing: $265/mo
$251less per month with the assumable
Your Savings on This Property
605 Alton, Denver · 3.45% VA vs 6.5% conventional
$251
per month
$3,008
per year
$90,226
over 30 years
$90,226
interest saved
How gap financing works: The equity gap ($44,725) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,250, 5% of purchase price) and a second mortgage for the rest ($34,475 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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