Loan Comparison: 3.46% vs 6.5%
714 Albion, Denver, CO 80220 · 3bd/3ba · $600,000
List Price
$600,000
Assumable Rate
3.46%
Remaining Balance
$315,272
Equity Gap
$283,843
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$283,843
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 3.46% + gap loan
$3,361/moAssumed loan: $1,409/mo
Gap financing: $1,952/mo
$242less per month with the assumable
Your Savings on This Property
714 Albion, Denver · 3.46% VA vs 6.5% conventional
$242
per month
$2,907
per year
$87,218
over 30 years
$86,333
interest saved
How gap financing works: The equity gap ($283,843) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($253,843 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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