Loan Comparison: 2.96% vs 6.5%
16282 47th, Denver, CO 80239 · 3bd/3ba · $389,900
List Price
$389,900
Assumable Rate
2.96%
Remaining Balance
$267,577
Equity Gap
$125,784
Loan Type
VAAdjust Your Scenario
$19,495
$19,495$125,784
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,341/moAssumable @ 2.96% + gap loan
$1,940/moAssumed loan: $1,122/mo
Gap financing: $817/mo
$402less per month with the assumable
Your Savings on This Property
16282 47th, Denver · 2.96% VA vs 6.5% conventional
$402
per month
$4,819
per year
$144,572
over 30 years
$148,033
interest saved
How gap financing works: The equity gap ($125,784) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,495, 5% of purchase price) and a second mortgage for the rest ($106,289 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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