Loan Comparison: 3.62% vs 6.5%
5454 Espana, Denver, CO 80249 · 3bd/3ba · $559,000
List Price
$559,000
Assumable Rate
3.62%
Remaining Balance
$234,531
Equity Gap
$324,469
Loan Type
VAAdjust Your Scenario
$27,950
$27,950$324,469
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,357/moAssumable @ 3.62% + gap loan
$3,349/moAssumed loan: $1,069/mo
Gap financing: $2,280/mo
$8less per month with the assumable
Your Savings on This Property
5454 Espana, Denver · 3.62% VA vs 6.5% conventional
$8
per month
$92
per year
$2,772
over 30 years
$2,772
interest saved
How gap financing works: The equity gap ($324,469) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,950, 5% of purchase price) and a second mortgage for the rest ($296,519 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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