Loan Comparison: 2.24% vs 6.5%
6429 Devinney, Arvada, CO 80004 · 4bd/4ba · $735,000
List Price
$735,000
Assumable Rate
2.24%
Remaining Balance
$331,926
Equity Gap
$417,846
Loan Type
VAAdjust Your Scenario
$36,750
$36,750$417,846
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.24% (VA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,413/moAssumable @ 2.24% + gap loan
$4,197/moAssumed loan: $1,267/mo
Gap financing: $2,930/mo
$216less per month with the assumable
Your Savings on This Property
6429 Devinney, Arvada · 2.24% VA vs 6.5% conventional
$216
per month
$2,592
per year
$77,772
over 30 years
$92,544
interest saved
How gap financing works: The equity gap ($417,846) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,750, 5% of purchase price) and a second mortgage for the rest ($381,096 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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