Loan Comparison: 2.81% vs 6.5%
3100 Huron, Denver, CO 80202 · 2bd/2ba · $589,000
List Price
$589,000
Assumable Rate
2.81%
Remaining Balance
$293,706
Equity Gap
$295,294
Loan Type
VAAdjust Your Scenario
$29,450
$29,450$295,294
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,537/moAssumable @ 2.81% + gap loan
$3,252/moAssumed loan: $1,208/mo
Gap financing: $2,044/mo
$284less per month with the assumable
Your Savings on This Property
3100 Huron, Denver · 2.81% VA vs 6.5% conventional
$284
per month
$3,411
per year
$102,327
over 30 years
$102,327
interest saved
How gap financing works: The equity gap ($295,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,450, 5% of purchase price) and a second mortgage for the rest ($265,844 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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