Loan Comparison: 3.46% vs 6.5%
714 Albion, Denver, CO 80220 · 3bd/3ba · $640,000
List Price
$640,000
Assumable Rate
3.46%
Remaining Balance
$323,143
Equity Gap
$322,082
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$322,082
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.46% + gap loan
$3,674/moAssumed loan: $1,444/mo
Gap financing: $2,230/mo
$169less per month with the assumable
Your Savings on This Property
714 Albion, Denver · 3.46% VA vs 6.5% conventional
$169
per month
$2,024
per year
$60,712
over 30 years
$65,937
interest saved
How gap financing works: The equity gap ($322,082) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($290,082 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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