Loan Comparison: 2.375% vs 6.5%
3270 Newport, Denver, CO 80207 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.375%
Remaining Balance
$334,897
Equity Gap
$194,392
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$194,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.375% + gap loan
$2,594/moAssumed loan: $1,302/mo
Gap financing: $1,293/mo
$558less per month with the assumable
Your Savings on This Property
3270 Newport, Denver · 2.375% VA vs 6.5% conventional
$558
per month
$6,696
per year
$200,875
over 30 years
$205,164
interest saved
How gap financing works: The equity gap ($194,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($168,142 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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