Loan Comparison: 2.71% vs 6.5%
4645 Lowell, Denver, CO 80236 · 2bd/2ba · $200,000
List Price
$200,000
Assumable Rate
2.71%
Remaining Balance
$162,199
Equity Gap
$38,187
Loan Type
VAAdjust Your Scenario
$10,000
$10,000$38,187
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.71% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,201/moAssumable @ 2.71% + gap loan
$875/moAssumed loan: $659/mo
Gap financing: $217/mo
$325less per month with the assumable
Your Savings on This Property
4645 Lowell, Denver · 2.71% VA vs 6.5% conventional
$325
per month
$3,906
per year
$117,167
over 30 years
$117,553
interest saved
How gap financing works: The equity gap ($38,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,000, 5% of purchase price) and a second mortgage for the rest ($28,187 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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