Loan Comparison: 3.18% vs 6.5%
48 Galapago, Denver, CO 80223 · 3bd/4ba · $650,000
List Price
$650,000
Assumable Rate
3.18%
Remaining Balance
$495,837
Equity Gap
$154,162
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$154,162
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.18% + gap loan
$3,074/moAssumed loan: $2,139/mo
Gap financing: $935/mo
$829less per month with the assumable
Your Savings on This Property
48 Galapago, Denver · 3.18% VA vs 6.5% conventional
$829
per month
$9,944
per year
$298,308
over 30 years
$298,307
interest saved
How gap financing works: The equity gap ($154,162) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($121,662 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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