Loan Comparison: 2.94% vs 6.5%
12209 Carolina, Denver, CO 80228 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
2.94%
Remaining Balance
$408,914
Equity Gap
$176,086
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$176,086
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.94% + gap loan
$2,840/moAssumed loan: $1,711/mo
Gap financing: $1,129/mo
$673less per month with the assumable
Your Savings on This Property
12209 Carolina, Denver · 2.94% VA vs 6.5% conventional
$673
per month
$8,075
per year
$242,238
over 30 years
$242,238
interest saved
How gap financing works: The equity gap ($176,086) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($146,836 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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