Loan Comparison: 4.05% vs 6.5%
100 Park, Denver, CO 80205 · 1bd/1ba · $285,000
List Price
$285,000
Assumable Rate
4.05%
Remaining Balance
$277,875
Equity Gap
$36,501
Loan Type
VAAdjust Your Scenario
$14,250
$14,250$36,501
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (VA)
Blended Rate: 4.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 4.05% + gap loan
$1,506/moAssumed loan: $1,335/mo
Gap financing: $171/mo
$206less per month with the assumable
Your Savings on This Property
100 Park, Denver · 4.05% VA vs 6.5% conventional
$206
per month
$2,467
per year
$74,014
over 30 years
$103,390
interest saved
How gap financing works: The equity gap ($36,501) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($22,251 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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