Loan Comparison: 3.23% vs 6.5%
7250 Avrum, Denver, CO 80221 · 3bd/2ba · $435,500
List Price
$435,500
Assumable Rate
3.23%
Remaining Balance
$314,791
Equity Gap
$120,709
Loan Type
VAAdjust Your Scenario
$21,775
$21,775$120,709
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,615/moAssumable @ 3.23% + gap loan
$2,127/moAssumed loan: $1,367/mo
Gap financing: $761/mo
$488less per month with the assumable
Your Savings on This Property
7250 Avrum, Denver · 3.23% VA vs 6.5% conventional
$488
per month
$5,853
per year
$175,597
over 30 years
$175,597
interest saved
How gap financing works: The equity gap ($120,709) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,775, 5% of purchase price) and a second mortgage for the rest ($98,934 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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