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
$327,604
Equity Gap
$142,395
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$142,395
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (VA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.25% + gap loan
$2,166/moAssumed loan: $1,252/mo
Gap financing: $914/mo
$656less per month with the assumable
Your Savings on This Property
2615 Newton, Denver · 2.25% VA vs 6.5% conventional
$656
per month
$7,869
per year
$236,063
over 30 years
$236,062
interest saved
How gap financing works: The equity gap ($142,395) 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 ($118,895 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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