Loan Comparison: 2.9% vs 6.5%
7776 Candlelight Lane, Fountain, CO 80817 · 5bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.9%
Remaining Balance
$412,781
Equity Gap
$37,219
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$37,219
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.9% + gap loan
$1,821/moAssumed loan: $1,718/mo
Gap financing: $103/mo
$881less per month with the assumable
Your Savings on This Property
7776 Candlelight Lane, Fountain · 2.9% VA vs 6.5% conventional
$881
per month
$10,573
per year
$317,180
over 30 years
$317,180
interest saved
How gap financing works: The equity gap ($37,219) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($14,719 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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