Loan Comparison: 3% vs 6.5%
4806 19th, Denver, CO 80220 · 3bd/3ba · $750,000
List Price
$750,000
Assumable Rate
3%
Remaining Balance
$729,355
Equity Gap
$179,372
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$179,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 3.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3% + gap loan
$4,166/moAssumed loan: $3,075/mo
Gap financing: $1,091/mo
$338less per month with the assumable
Your Savings on This Property
4806 19th, Denver · 3% VA vs 6.5% conventional
$338
per month
$4,051
per year
$121,544
over 30 years
$280,271
interest saved
How gap financing works: The equity gap ($179,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($141,872 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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