Loan Comparison: 5.5% vs 6.5%
3470 Poplar, Denver, CO 80224 · 2bd/2ba · $320,000
List Price
$320,000
Assumable Rate
5.5%
Remaining Balance
$325,835
Equity Gap
$320,000
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$320,000
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 5.5% + gap loan
$4,188/moAssumed loan: $1,850/mo
Gap financing: $2,337/mo
Your Savings on This Property
3470 Poplar, Denver · 5.5% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($320,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($304,000 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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