Loan Comparison: 2.375% vs 6.5%
3270 Newport, Denver, CO 80207 · 3bd/2ba · $499,900
List Price
$499,900
Assumable Rate
2.375%
Remaining Balance
$327,053
Equity Gap
$169,292
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$169,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (VA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.375% + gap loan
$2,381/moAssumed loan: $1,271/mo
Gap financing: $1,110/mo
$621less per month with the assumable
Your Savings on This Property
3270 Newport, Denver · 2.375% VA vs 6.5% conventional
$621
per month
$7,453
per year
$223,597
over 30 years
$220,042
interest saved
How gap financing works: The equity gap ($169,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($144,297 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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