Loan Comparison: 6.08% vs 6.5%
7409 Colonial Drive, Fountain, CO 80817 · 3bd/2ba · $429,900
List Price
$429,900
Assumable Rate
6.08%
Remaining Balance
$397,126
Equity Gap
$32,774
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$32,774
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.08% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 6.08% + gap loan
$2,480/moAssumed loan: $2,401/mo
Gap financing: $79/mo
$101less per month with the assumable
Your Savings on This Property
7409 Colonial Drive, Fountain · 6.08% VA vs 6.5% conventional
$101
per month
$1,213
per year
$36,395
over 30 years
$36,395
interest saved
How gap financing works: The equity gap ($32,774) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($11,279 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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