Loan Comparison: 2.94% vs 6.5%
3034 Wilson, Denver, CO 80205 · 4bd/5ba · $847,000
List Price
$847,000
Assumable Rate
2.94%
Remaining Balance
$670,561
Equity Gap
$176,438
Loan Type
VAAdjust Your Scenario
$42,350
$42,350$176,438
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,086/moAssumable @ 2.94% + gap loan
$3,836/moAssumed loan: $2,805/mo
Gap financing: $1,031/mo
$1,249less per month with the assumable
Your Savings on This Property
3034 Wilson, Denver · 2.94% VA vs 6.5% conventional
$1,249
per month
$14,993
per year
$449,804
over 30 years
$449,803
interest saved
How gap financing works: The equity gap ($176,438) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,350, 5% of purchase price) and a second mortgage for the rest ($134,088 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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