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
$214,563
Equity Gap
$64,437
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$64,437
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 3.7% + gap loan
$1,376/moAssumed loan: $988/mo
Gap financing: $388/mo
$299less per month with the assumable
Your Savings on This Property
15475 Andrews, Denver · 3.7% VA vs 6.5% conventional
$299
per month
$3,594
per year
$107,819
over 30 years
$107,819
interest saved
How gap financing works: The equity gap ($64,437) 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 ($50,487 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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