Loan Comparison: 2.25% vs 6.5%
2615 Newton, Denver, CO 80219 · 3bd/1ba · $470,000
List Price
$470,000
Assumable Rate
2.25%
Remaining Balance
$331,598
Equity Gap
$137,624
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$137,624
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.25% + gap loan
$2,145/moAssumed loan: $1,268/mo
Gap financing: $878/mo
$677less per month with the assumable
Your Savings on This Property
2615 Newton, Denver · 2.25% VA vs 6.5% conventional
$677
per month
$8,126
per year
$243,773
over 30 years
$242,995
interest saved
How gap financing works: The equity gap ($137,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($114,124 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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