Loan Comparison: 3.07% vs 6.5%
10462 Carlile, Denver, CO 80233 · 4bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.07%
Remaining Balance
$416,106
Equity Gap
$33,894
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$33,894
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.07% + gap loan
$1,858/moAssumed loan: $1,770/mo
Gap financing: $88/mo
$844less per month with the assumable
Your Savings on This Property
10462 Carlile, Denver · 3.07% VA vs 6.5% conventional
$844
per month
$10,133
per year
$303,989
over 30 years
$303,989
interest saved
How gap financing works: The equity gap ($33,894) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($11,394 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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