Loan Comparison: 3.08% vs 6.5%
795 Alton, Denver, CO 80247 · 2bd/2ba · $249,900
List Price
$249,900
Assumable Rate
3.08%
Remaining Balance
$208,398
Equity Gap
$41,502
Loan Type
VAAdjust Your Scenario
$12,495
$12,495$41,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.08% + gap loan
$1,111/moAssumed loan: $888/mo
Gap financing: $223/mo
$390less per month with the assumable
Your Savings on This Property
795 Alton, Denver · 3.08% VA vs 6.5% conventional
$390
per month
$4,679
per year
$140,361
over 30 years
$140,361
interest saved
How gap financing works: The equity gap ($41,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,495, 5% of purchase price) and a second mortgage for the rest ($29,007 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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