Loan Comparison: 3.7% vs 6.5%
15475 Andrews, Denver, CO 80239 · 2bd/2ba · $279,000
List Price
$279,000
Assumable Rate
3.7%
Remaining Balance
$213,624
Equity Gap
$65,375
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$65,375
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 3.7% + gap loan
$1,379/moAssumed loan: $983/mo
Gap financing: $395/mo
$297less per month with the assumable
Your Savings on This Property
15475 Andrews, Denver · 3.7% VA vs 6.5% conventional
$297
per month
$3,559
per year
$106,779
over 30 years
$106,778
interest saved
How gap financing works: The equity gap ($65,375) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($51,425 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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