Loan Comparison: 2.81% vs 6.5%
8976 Fox, Denver, CO 80260 · 2bd/2ba · $300,000
List Price
$300,000
Assumable Rate
2.81%
Remaining Balance
$257,156
Equity Gap
$72,844
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$72,844
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.81% + gap loan
$1,503/moAssumed loan: $1,058/mo
Gap financing: $445/mo
$299less per month with the assumable
Your Savings on This Property
8976 Fox, Denver · 2.81% VA vs 6.5% conventional
$299
per month
$3,583
per year
$107,502
over 30 years
$137,502
interest saved
How gap financing works: The equity gap ($72,844) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($57,844 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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