Loan Comparison: 2.94% vs 6.5%
2240 Clay, Denver, CO 80211 · 2bd/2ba · $549,500
List Price
$549,500
Assumable Rate
2.94%
Remaining Balance
$436,087
Equity Gap
$117,372
Loan Type
VAAdjust Your Scenario
$27,475
$27,475$117,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,300/moAssumable @ 2.94% + gap loan
$2,516/moAssumed loan: $1,824/mo
Gap financing: $691/mo
$784less per month with the assumable
Your Savings on This Property
2240 Clay, Denver · 2.94% VA vs 6.5% conventional
$784
per month
$9,406
per year
$282,184
over 30 years
$286,143
interest saved
How gap financing works: The equity gap ($117,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,475, 5% of purchase price) and a second mortgage for the rest ($89,897 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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