Loan Comparison: 2.83% vs 6.5%
4041 Hayward, Denver, CO 80212 · 6bd/4ba · $1,600,000
List Price
$1,600,000
Assumable Rate
2.83%
Remaining Balance
$783,112
Equity Gap
$813,304
Loan Type
VAAdjust Your Scenario
$80,000
$80,000$813,304
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,607/moAssumable @ 2.83% + gap loan
$8,869/moAssumed loan: $3,230/mo
Gap financing: $5,638/mo
$739less per month with the assumable
Your Savings on This Property
4041 Hayward, Denver · 2.83% VA vs 6.5% conventional
$739
per month
$8,864
per year
$265,930
over 30 years
$262,346
interest saved
How gap financing works: The equity gap ($813,304) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($80,000, 5% of purchase price) and a second mortgage for the rest ($733,304 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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