Loan Comparison: 3.62% vs 6.5%
1196 Boston, Denver, CO 80247 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
3.62%
Remaining Balance
$215,494
Equity Gap
$279,506
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$279,506
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.62% + gap loan
$2,941/moAssumed loan: $982/mo
Gap financing: $1,959/mo
$31less per month with the assumable
Your Savings on This Property
1196 Boston, Denver · 3.62% VA vs 6.5% conventional
$31
per month
$375
per year
$11,264
over 30 years
$11,264
interest saved
How gap financing works: The equity gap ($279,506) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($254,756 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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