Loan Comparison: 2.74% vs 6.5%
6055 Minnesota, Denver, CO 80224 · 2bd/2ba · $529,000
List Price
$529,000
Assumable Rate
2.74%
Remaining Balance
$265,438
Equity Gap
$263,562
Loan Type
VAAdjust Your Scenario
$26,450
$26,450$263,562
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,176/moAssumable @ 2.74% + gap loan
$2,905/moAssumed loan: $1,082/mo
Gap financing: $1,823/mo
$271less per month with the assumable
Your Savings on This Property
6055 Minnesota, Denver · 2.74% VA vs 6.5% conventional
$271
per month
$3,253
per year
$97,578
over 30 years
$97,578
interest saved
How gap financing works: The equity gap ($263,562) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,450, 5% of purchase price) and a second mortgage for the rest ($237,112 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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