Loan Comparison: 3.08% vs 6.5%
6565 Arizona, Denver, CO 80224 · 2bd/1ba · $268,000
List Price
$268,000
Assumable Rate
3.08%
Remaining Balance
$211,257
Equity Gap
$55,813
Loan Type
VAAdjust Your Scenario
$13,400
$13,400$55,813
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,609/moAssumable @ 3.08% + gap loan
$1,226/moAssumed loan: $900/mo
Gap financing: $326/mo
$383less per month with the assumable
Your Savings on This Property
6565 Arizona, Denver · 3.08% VA vs 6.5% conventional
$383
per month
$4,600
per year
$137,994
over 30 years
$137,064
interest saved
How gap financing works: The equity gap ($55,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,400, 5% of purchase price) and a second mortgage for the rest ($42,413 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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