Loan Comparison: 5.89% vs 6.5%
6231 Dayton, Denver, CO 80238 · 3bd/4ba · $610,000
List Price
$610,000
Assumable Rate
5.89%
Remaining Balance
$571,448
Equity Gap
$40,768
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$40,768
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.89% (VA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 5.89% + gap loan
$3,465/moAssumed loan: $3,386/mo
Gap financing: $79/mo
$198less per month with the assumable
Your Savings on This Property
6231 Dayton, Denver · 5.89% VA vs 6.5% conventional
$198
per month
$2,377
per year
$71,306
over 30 years
$73,522
interest saved
How gap financing works: The equity gap ($40,768) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($10,268 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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