Loan Comparison: 3% vs 6.5%
7716 Candlelight Lane, Fountain, CO 80817 · 4bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3%
Remaining Balance
$413,552
Equity Gap
$106,448
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$106,448
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3% + gap loan
$2,306/moAssumed loan: $1,744/mo
Gap financing: $563/mo
$816less per month with the assumable
Your Savings on This Property
7716 Candlelight Lane, Fountain · 3% VA vs 6.5% conventional
$816
per month
$9,796
per year
$293,890
over 30 years
$293,890
interest saved
How gap financing works: The equity gap ($106,448) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($80,448 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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