Loan Comparison: 4.56% vs 6.5%
12174 Melody, Denver, CO 80234 · 3bd/2ba · $220,000
List Price
$220,000
Assumable Rate
4.56%
Remaining Balance
$49,822
Equity Gap
$170,178
Loan Type
VAAdjust Your Scenario
$11,000
$11,000$170,178
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.56% (VA)
Blended Rate: 7.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 4.56% + gap loan
$1,478/moAssumed loan: $254/mo
Gap financing: $1,224/mo
Your Savings on This Property
12174 Melody, Denver · 4.56% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($170,178) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($159,178 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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