Loan Comparison: 3.04% vs 6.5%
1324 Lincoln, Denver, CO 80210 · 4bd/3ba · $1,199,000
List Price
$1,199,000
Assumable Rate
3.04%
Remaining Balance
$500,397
Equity Gap
$697,463
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$697,463
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 3.04% + gap loan
$7,022/moAssumed loan: $2,121/mo
Gap financing: $4,902/mo
$177less per month with the assumable
Your Savings on This Property
1324 Lincoln, Denver · 3.04% VA vs 6.5% conventional
$177
per month
$2,126
per year
$63,772
over 30 years
$62,632
interest saved
How gap financing works: The equity gap ($697,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($637,513 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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