Loan Comparison: 2.88% vs 6.5%
1701 Grant, Denver, CO 80210 · 4bd/4ba · $1,115,000
List Price
$1,115,000
Assumable Rate
2.88%
Remaining Balance
$757,000
Equity Gap
$356,229
Loan Type
VAAdjust Your Scenario
$55,750
$55,750$356,229
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,695/moAssumable @ 2.88% + gap loan
$5,453/moAssumed loan: $3,143/mo
Gap financing: $2,310/mo
$1,242less per month with the assumable
Your Savings on This Property
1701 Grant, Denver · 2.88% VA vs 6.5% conventional
$1,242
per month
$14,904
per year
$447,119
over 30 years
$445,348
interest saved
How gap financing works: The equity gap ($356,229) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,750, 5% of purchase price) and a second mortgage for the rest ($300,479 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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