Loan Comparison: 2.87% vs 6.5%
1111 Ash, Denver, CO 80220 · 2bd/1ba · $245,000
List Price
$245,000
Assumable Rate
2.87%
Remaining Balance
$220,888
Equity Gap
$24,112
Loan Type
VAAdjust Your Scenario
$12,250
$12,250$24,112
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 2.87% + gap loan
$1,007/moAssumed loan: $916/mo
Gap financing: $91/mo
$464less per month with the assumable
Your Savings on This Property
1111 Ash, Denver · 2.87% VA vs 6.5% conventional
$464
per month
$5,569
per year
$167,066
over 30 years
$167,066
interest saved
How gap financing works: The equity gap ($24,112) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($11,862 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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