Loan Comparison: 3.07% vs 6.5%
1020 15th, Denver, CO 80202 · 0bd/1ba · $215,000
List Price
$215,000
Assumable Rate
3.07%
Remaining Balance
$203,865
Equity Gap
$11,135
Loan Type
VAAdjust Your Scenario
$10,750
$10,750$11,135
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 3.07% + gap loan
$870/moAssumed loan: $867/mo
Gap financing: $3/mo
$421less per month with the assumable
Your Savings on This Property
1020 15th, Denver · 3.07% VA vs 6.5% conventional
$421
per month
$5,050
per year
$151,495
over 30 years
$151,495
interest saved
How gap financing works: The equity gap ($11,135) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($385 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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