Loan Comparison: 3.34% vs 6.5%
2351 Glencoe, Denver, CO 80207 · 5bd/5ba · $2,400,000
List Price
$2,400,000
Assumable Rate
3.34%
Remaining Balance
$1,321,482
Equity Gap
$1,078,518
Loan Type
VAAdjust Your Scenario
$120,000
$120,000$1,078,518
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$14,411/moAssumable @ 3.34% + gap loan
$13,187/moAssumed loan: $5,817/mo
Gap financing: $7,370/mo
$1,224less per month with the assumable
Your Savings on This Property
2351 Glencoe, Denver · 3.34% VA vs 6.5% conventional
$1,224
per month
$14,692
per year
$440,758
over 30 years
$440,758
interest saved
How gap financing works: The equity gap ($1,078,518) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($120,000, 5% of purchase price) and a second mortgage for the rest ($958,518 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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