Loan Comparison: 3.16% vs 6.5%
5255 Memphis, Denver, CO 80239 · 2bd/2ba · $257,500
List Price
$257,500
Assumable Rate
3.16%
Remaining Balance
$195,044
Equity Gap
$65,287
Loan Type
VAAdjust Your Scenario
$12,875
$12,875$65,287
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,546/moAssumable @ 3.16% + gap loan
$1,242/moAssumed loan: $839/mo
Gap financing: $403/mo
$304less per month with the assumable
Your Savings on This Property
5255 Memphis, Denver · 3.16% VA vs 6.5% conventional
$304
per month
$3,647
per year
$109,423
over 30 years
$112,254
interest saved
How gap financing works: The equity gap ($65,287) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,875, 5% of purchase price) and a second mortgage for the rest ($52,412 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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