Loan Comparison: 2.98% vs 6.5%
7492 Bates, Denver, CO 80231 · 4bd/3ba · $715,000
List Price
$715,000
Assumable Rate
2.98%
Remaining Balance
$387,068
Equity Gap
$328,790
Loan Type
VAAdjust Your Scenario
$35,750
$35,750$328,790
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 2.98% + gap loan
$3,881/moAssumed loan: $1,628/mo
Gap financing: $2,253/mo
$412less per month with the assumable
Your Savings on This Property
7492 Bates, Denver · 2.98% VA vs 6.5% conventional
$412
per month
$4,949
per year
$148,455
over 30 years
$149,313
interest saved
How gap financing works: The equity gap ($328,790) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($293,040 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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