Loan Comparison: 3.8% vs 6.5%
8199 Welby, Denver, CO 80229 · 2bd/1ba · $289,900
List Price
$289,900
Assumable Rate
3.8%
Remaining Balance
$193,355
Equity Gap
$96,975
Loan Type
VAAdjust Your Scenario
$14,495
$14,495$96,975
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 3.8% + gap loan
$1,535/moAssumed loan: $901/mo
Gap financing: $634/mo
$206less per month with the assumable
Your Savings on This Property
8199 Welby, Denver · 3.8% VA vs 6.5% conventional
$206
per month
$2,467
per year
$74,014
over 30 years
$74,444
interest saved
How gap financing works: The equity gap ($96,975) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,495, 5% of purchase price) and a second mortgage for the rest ($82,480 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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