Loan Comparison: 2.98% vs 6.5%
725 Alton, Denver, CO 80247 · 2bd/2ba · $239,900
List Price
$239,900
Assumable Rate
2.98%
Remaining Balance
$223,879
Equity Gap
$16,021
Loan Type
VAAdjust Your Scenario
$11,995
$11,995$16,021
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.98% + gap loan
$972/moAssumed loan: $941/mo
Gap financing: $31/mo
$468less per month with the assumable
Your Savings on This Property
725 Alton, Denver · 2.98% VA vs 6.5% conventional
$468
per month
$5,617
per year
$168,512
over 30 years
$168,512
interest saved
How gap financing works: The equity gap ($16,021) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($4,026 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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