Loan Comparison: 3.02% vs 6.5%
381 El Paso, Denver, CO 80221 · 4bd/2ba · $465,000
List Price
$465,000
Assumable Rate
3.02%
Remaining Balance
$311,536
Equity Gap
$155,609
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$155,609
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.02% + gap loan
$2,335/moAssumed loan: $1,317/mo
Gap financing: $1,018/mo
$458less per month with the assumable
Your Savings on This Property
381 El Paso, Denver · 3.02% VA vs 6.5% conventional
$458
per month
$5,491
per year
$164,744
over 30 years
$166,889
interest saved
How gap financing works: The equity gap ($155,609) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($132,359 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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