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
$457,716
Equity Gap
$65,284
Loan Type
VAAdjust Your Scenario
$26,150
$26,150$65,284
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,140/moAssumable @ 3.07% + gap loan
$2,248/moAssumed loan: $1,947/mo
Gap financing: $301/mo
$892less per month with the assumable
Your Savings on This Property
5135 Andes, Denver · 3.07% VA vs 6.5% conventional
$892
per month
$10,709
per year
$321,282
over 30 years
$321,282
interest saved
How gap financing works: The equity gap ($65,284) 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 ($39,134 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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