Loan Comparison: 3.1% vs 6.5%
11095 Falling Star Road, Fountain, CO 80817 · 4bd/4ba · $455,000
List Price
$455,000
Assumable Rate
3.1%
Remaining Balance
$400,659
Equity Gap
$54,340
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$54,340
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 3.1% + gap loan
$1,932/moAssumed loan: $1,711/mo
Gap financing: $221/mo
$800less per month with the assumable
Your Savings on This Property
11095 Falling Star Road, Fountain · 3.1% VA vs 6.5% conventional
$800
per month
$9,604
per year
$288,127
over 30 years
$288,126
interest saved
How gap financing works: The equity gap ($54,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($31,590 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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