Loan Comparison: 3.97% vs 6.5%
495 Dayton, Denver, CO 80247 · 2bd/2ba · $199,000
List Price
$199,000
Assumable Rate
3.97%
Remaining Balance
$131,286
Equity Gap
$67,714
Loan Type
VAAdjust Your Scenario
$9,950
$9,950$67,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.97% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,195/moAssumable @ 3.97% + gap loan
$1,069/moAssumed loan: $625/mo
Gap financing: $444/mo
$126less per month with the assumable
Your Savings on This Property
495 Dayton, Denver · 3.97% VA vs 6.5% conventional
$126
per month
$1,515
per year
$45,453
over 30 years
$45,453
interest saved
How gap financing works: The equity gap ($67,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,950, 5% of purchase price) and a second mortgage for the rest ($57,764 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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