Loan Comparison: 2.94% vs 6.5%
3155 104th, Denver, CO 80233 · 2bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.94%
Remaining Balance
$206,636
Equity Gap
$167,396
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$167,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.94% + gap loan
$2,007/moAssumed loan: $865/mo
Gap financing: $1,143/mo
$244less per month with the assumable
Your Savings on This Property
3155 104th, Denver · 2.94% VA vs 6.5% conventional
$244
per month
$2,931
per year
$87,937
over 30 years
$86,969
interest saved
How gap financing works: The equity gap ($167,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($148,646 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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