Loan Comparison: 2.81% vs 6.5%
2955 Inca, Denver, CO 80202 · 1bd/1ba · $650,000
List Price
$650,000
Assumable Rate
2.81%
Remaining Balance
$473,564
Equity Gap
$176,436
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$176,436
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.81% + gap loan
$3,055/moAssumed loan: $1,948/mo
Gap financing: $1,107/mo
$848less per month with the assumable
Your Savings on This Property
2955 Inca, Denver · 2.81% VA vs 6.5% conventional
$848
per month
$10,175
per year
$305,248
over 30 years
$305,248
interest saved
How gap financing works: The equity gap ($176,436) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($143,936 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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