Loan Comparison: 2.88% vs 6.5%
1241 York, Denver, CO 80206 · 4bd/3ba · $1,050,000
List Price
$1,050,000
Assumable Rate
2.88%
Remaining Balance
$849,687
Equity Gap
$200,313
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$200,313
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 2.88% + gap loan
$4,664/moAssumed loan: $3,528/mo
Gap financing: $1,137/mo
$1,641less per month with the assumable
Your Savings on This Property
1241 York, Denver · 2.88% VA vs 6.5% conventional
$1,641
per month
$19,689
per year
$590,676
over 30 years
$590,676
interest saved
How gap financing works: The equity gap ($200,313) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($147,813 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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