Loan Comparison: 3.97% vs 6.5%
495 Dayton, Denver, CO 80247 · 2bd/2ba · $210,000
List Price
$210,000
Assumable Rate
3.97%
Remaining Balance
$131,937
Equity Gap
$77,740
Loan Type
VAAdjust Your Scenario
$10,500
$10,500$77,740
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.97% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 3.97% + gap loan
$1,145/moAssumed loan: $628/mo
Gap financing: $517/mo
$116less per month with the assumable
Your Savings on This Property
495 Dayton, Denver · 3.97% VA vs 6.5% conventional
$116
per month
$1,396
per year
$41,886
over 30 years
$41,563
interest saved
How gap financing works: The equity gap ($77,740) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($67,240 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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