Loan Comparison: 2.89% vs 6.5%
4184 Lowell, Denver, CO 80211 · 4bd/3ba · $999,000
List Price
$999,000
Assumable Rate
2.89%
Remaining Balance
$400,676
Equity Gap
$596,445
Loan Type
VAAdjust Your Scenario
$49,950
$49,950$596,445
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,999/moAssumable @ 2.89% + gap loan
$5,868/moAssumed loan: $1,666/mo
Gap financing: $4,202/mo
$131less per month with the assumable
Your Savings on This Property
4184 Lowell, Denver · 2.89% VA vs 6.5% conventional
$131
per month
$1,572
per year
$47,152
over 30 years
$45,273
interest saved
How gap financing works: The equity gap ($596,445) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,950, 5% of purchase price) and a second mortgage for the rest ($546,495 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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