Loan Comparison: 3.08% vs 6.5%
6565 Arizona, Denver, CO 80224 · 2bd/1ba · $280,000
List Price
$280,000
Assumable Rate
3.08%
Remaining Balance
$212,186
Equity Gap
$67,813
Loan Type
VAAdjust Your Scenario
$14,000
$14,000$67,813
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.08% + gap loan
$1,318/moAssumed loan: $904/mo
Gap financing: $414/mo
$364less per month with the assumable
Your Savings on This Property
6565 Arizona, Denver · 3.08% VA vs 6.5% conventional
$364
per month
$4,365
per year
$130,954
over 30 years
$130,953
interest saved
How gap financing works: The equity gap ($67,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($53,813 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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