Loan Comparison: 3.06% vs 6.5%
7220 Avrum, Denver, CO 80221 · 3bd/2ba · $499,000
List Price
$499,000
Assumable Rate
3.06%
Remaining Balance
$389,734
Equity Gap
$108,414
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$108,414
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.06% + gap loan
$2,298/moAssumed loan: $1,656/mo
Gap financing: $642/mo
$699less per month with the assumable
Your Savings on This Property
7220 Avrum, Denver · 3.06% VA vs 6.5% conventional
$699
per month
$8,385
per year
$251,561
over 30 years
$250,709
interest saved
How gap financing works: The equity gap ($108,414) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($83,464 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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