Loan Comparison: 3.16% vs 6.5%
2115 Ranch, Denver, CO 80234 · 3bd/4ba · $429,900
List Price
$429,900
Assumable Rate
3.16%
Remaining Balance
$311,691
Equity Gap
$119,618
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$119,618
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 3.16% + gap loan
$2,096/moAssumed loan: $1,341/mo
Gap financing: $754/mo
$486less per month with the assumable
Your Savings on This Property
2115 Ranch, Denver · 3.16% VA vs 6.5% conventional
$486
per month
$5,829
per year
$174,876
over 30 years
$176,285
interest saved
How gap financing works: The equity gap ($119,618) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($98,123 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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