Loan Comparison: 3.07% vs 6.5%
5135 Andes, Denver, CO 80249 · 3bd/1ba · $523,000
List Price
$523,000
Assumable Rate
3.07%
Remaining Balance
$460,650
Equity Gap
$62,350
Loan Type
VAAdjust Your Scenario
$26,150
$26,150$62,350
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,140/moAssumable @ 3.07% + gap loan
$2,238/moAssumed loan: $1,960/mo
Gap financing: $278/mo
$903less per month with the assumable
Your Savings on This Property
5135 Andes, Denver · 3.07% VA vs 6.5% conventional
$903
per month
$10,830
per year
$324,911
over 30 years
$324,911
interest saved
How gap financing works: The equity gap ($62,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,150, 5% of purchase price) and a second mortgage for the rest ($36,200 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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