Loan Comparison: 2.94% vs 6.5%
3034 Wilson, Denver, CO 80205 · 4bd/5ba · $875,000
List Price
$875,000
Assumable Rate
2.94%
Remaining Balance
$786,183
Equity Gap
$202,947
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$202,947
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.94% + gap loan
$4,513/moAssumed loan: $3,289/mo
Gap financing: $1,224/mo
$741less per month with the assumable
Your Savings on This Property
3034 Wilson, Denver · 2.94% VA vs 6.5% conventional
$741
per month
$8,889
per year
$266,683
over 30 years
$380,813
interest saved
How gap financing works: The equity gap ($202,947) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($159,197 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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