Loan Comparison: 2.9% vs 6.5%
5751 Ithaca, Denver, CO 80237 · 2bd/2ba · $369,900
List Price
$369,900
Assumable Rate
2.9%
Remaining Balance
$340,353
Equity Gap
$29,546
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$29,546
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 2.9% + gap loan
$1,502/moAssumed loan: $1,417/mo
Gap financing: $85/mo
$719less per month with the assumable
Your Savings on This Property
5751 Ithaca, Denver · 2.9% VA vs 6.5% conventional
$719
per month
$8,634
per year
$259,018
over 30 years
$259,017
interest saved
How gap financing works: The equity gap ($29,546) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($11,051 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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