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
$224,367
Equity Gap
$14,560
Loan Type
VAAdjust Your Scenario
$11,995
$11,995$14,560
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.98% + gap loan
$963/moAssumed loan: $944/mo
Gap financing: $20/mo
$477less per month with the assumable
Your Savings on This Property
725 Alton, Denver · 2.98% VA vs 6.5% conventional
$477
per month
$5,727
per year
$171,817
over 30 years
$170,844
interest saved
How gap financing works: The equity gap ($14,560) 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 ($2,565 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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