Loan Comparison: 2.83% vs 6.5%
8300 Race, Denver, CO 80229 · 4bd/2ba · $460,000
List Price
$460,000
Assumable Rate
2.83%
Remaining Balance
$336,117
Equity Gap
$125,442
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$125,442
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.83% + gap loan
$2,174/moAssumed loan: $1,386/mo
Gap financing: $788/mo
$588less per month with the assumable
Your Savings on This Property
8300 Race, Denver · 2.83% VA vs 6.5% conventional
$588
per month
$7,056
per year
$211,678
over 30 years
$213,237
interest saved
How gap financing works: The equity gap ($125,442) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($102,442 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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