Loan Comparison: 3.02% vs 6.5%
4761 Memphis, Denver, CO 80239 · 3bd/3ba · $397,000
List Price
$397,000
Assumable Rate
3.02%
Remaining Balance
$332,027
Equity Gap
$64,225
Loan Type
VAAdjust Your Scenario
$19,850
$19,850$64,225
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,384/moAssumable @ 3.02% + gap loan
$1,745/moAssumed loan: $1,403/mo
Gap financing: $341/mo
$639less per month with the assumable
Your Savings on This Property
4761 Memphis, Denver · 3.02% VA vs 6.5% conventional
$639
per month
$7,671
per year
$230,118
over 30 years
$229,370
interest saved
How gap financing works: The equity gap ($64,225) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,850, 5% of purchase price) and a second mortgage for the rest ($44,375 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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