Loan Comparison: 3.22% vs 6.5%
7356 Josh Byers Way, Fountain, CO 80817 · 3bd/2ba · $408,499
List Price
$408,499
Assumable Rate
3.22%
Remaining Balance
$361,479
Equity Gap
$47,020
Loan Type
VAAdjust Your Scenario
$20,425
$20,425$47,020
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.22% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,453/moAssumable @ 3.22% + gap loan
$1,753/moAssumed loan: $1,567/mo
Gap financing: $186/mo
$700less per month with the assumable
Your Savings on This Property
7356 Josh Byers Way, Fountain · 3.22% VA vs 6.5% conventional
$700
per month
$8,396
per year
$251,893
over 30 years
$251,893
interest saved
How gap financing works: The equity gap ($47,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,425, 5% of purchase price) and a second mortgage for the rest ($26,595 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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