Loan Comparison: 2.8% vs 6.5%
335 Missouri Avenue, Fountain, CO 80817 · 3bd/3ba · $295,000
List Price
$295,000
Assumable Rate
2.8%
Remaining Balance
$277,028
Equity Gap
$17,971
Loan Type
VAAdjust Your Scenario
$14,750
$14,750$17,971
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 2.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.8% + gap loan
$1,161/moAssumed loan: $1,138/mo
Gap financing: $23/mo
$611less per month with the assumable
Your Savings on This Property
335 Missouri Avenue, Fountain · 2.8% VA vs 6.5% conventional
$611
per month
$7,327
per year
$219,800
over 30 years
$219,799
interest saved
How gap financing works: The equity gap ($17,971) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($3,221 at 7.5%). 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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