Loan Comparison: 6.99% vs 6.5%
9223 Waters Edge Drive, Fountain, CO 80817 · 3bd/3ba · $470,000
List Price
$470,000
Assumable Rate
6.99%
Remaining Balance
$434,216
Equity Gap
$35,783
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$35,783
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.99% (VA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 6.99% + gap loan
$2,972/moAssumed loan: $2,886/mo
Gap financing: $86/mo
Your Savings on This Property
9223 Waters Edge Drive, Fountain · 6.99% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($35,783) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($12,283 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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