Loan Comparison: 2.74% vs 6.5%
3255 Cook, Denver, CO 80205 · 2bd/1ba · $419,000
List Price
$419,000
Assumable Rate
2.74%
Remaining Balance
$309,333
Equity Gap
$113,230
Loan Type
VAAdjust Your Scenario
$20,950
$20,950$113,230
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,516/moAssumable @ 2.74% + gap loan
$1,971/moAssumed loan: $1,261/mo
Gap financing: $710/mo
$545less per month with the assumable
Your Savings on This Property
3255 Cook, Denver · 2.74% VA vs 6.5% conventional
$545
per month
$6,542
per year
$196,274
over 30 years
$199,837
interest saved
How gap financing works: The equity gap ($113,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,950, 5% of purchase price) and a second mortgage for the rest ($92,280 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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