Loan Comparison: 3% vs 6.5%
790 Eliot, Denver, CO 80219 · 3bd/1ba · $450,000
List Price
$450,000
Assumable Rate
3%
Remaining Balance
$315,952
Equity Gap
$133,313
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$133,313
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3% + gap loan
$2,184/moAssumed loan: $1,332/mo
Gap financing: $852/mo
$518less per month with the assumable
Your Savings on This Property
790 Eliot, Denver · 3% VA vs 6.5% conventional
$518
per month
$6,216
per year
$186,469
over 30 years
$185,734
interest saved
How gap financing works: The equity gap ($133,313) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($110,813 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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