Loan Comparison: 2.78% vs 6.5%
7104 Bracken Place, Fountain, CO 80817 · 3bd/3ba · $314,900
List Price
$314,900
Assumable Rate
2.78%
Remaining Balance
$285,992
Equity Gap
$28,908
Loan Type
VAAdjust Your Scenario
$15,745
$15,745$28,908
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 2.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 2.78% + gap loan
$1,264/moAssumed loan: $1,172/mo
Gap financing: $92/mo
$627less per month with the assumable
Your Savings on This Property
7104 Bracken Place, Fountain · 2.78% VA vs 6.5% conventional
$627
per month
$7,521
per year
$225,626
over 30 years
$225,626
interest saved
How gap financing works: The equity gap ($28,908) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,745, 5% of purchase price) and a second mortgage for the rest ($13,163 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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