Loan Comparison: 3.45% vs 6.5%
1991 66th, Denver, CO 80221 · 3bd/3ba · $595,000
List Price
$595,000
Assumable Rate
3.45%
Remaining Balance
$300,187
Equity Gap
$294,812
Loan Type
VAAdjust Your Scenario
$29,750
$29,750$294,812
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 3.45% + gap loan
$3,378/moAssumed loan: $1,340/mo
Gap financing: $2,038/mo
$195less per month with the assumable
Your Savings on This Property
1991 66th, Denver · 3.45% VA vs 6.5% conventional
$195
per month
$2,341
per year
$70,221
over 30 years
$70,220
interest saved
How gap financing works: The equity gap ($294,812) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($265,062 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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