Loan Comparison: 2.88% vs 6.5%
6650 Harvard, Denver, CO 80224 · 5bd/3ba · $675,000
List Price
$675,000
Assumable Rate
2.88%
Remaining Balance
$588,150
Equity Gap
$86,850
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$86,850
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 2.88% + gap loan
$2,850/moAssumed loan: $2,442/mo
Gap financing: $408/mo
$1,203less per month with the assumable
Your Savings on This Property
6650 Harvard, Denver · 2.88% VA vs 6.5% conventional
$1,203
per month
$14,437
per year
$433,109
over 30 years
$433,109
interest saved
How gap financing works: The equity gap ($86,850) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($53,100 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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