Loan Comparison: 3.85% vs 6.5%
1351 Franklin, Denver, CO 80218 · 5bd/4ba · $1,600,000
List Price
$1,600,000
Assumable Rate
3.85%
Remaining Balance
$1,403,884
Equity Gap
$450,371
Loan Type
VAAdjust Your Scenario
$80,000
$80,000$450,371
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,607/moAssumable @ 3.85% + gap loan
$9,429/moAssumed loan: $6,582/mo
Gap financing: $2,848/mo
$178less per month with the assumable
Your Savings on This Property
1351 Franklin, Denver · 3.85% VA vs 6.5% conventional
$178
per month
$2,137
per year
$64,108
over 30 years
$318,363
interest saved
How gap financing works: The equity gap ($450,371) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($80,000, 5% of purchase price) and a second mortgage for the rest ($370,371 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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