Loan Comparison: 2.94% vs 6.5%
102 Bald Eagle View, Divide, CO 80814 · 3bd/3ba · $1,075,000
List Price
$1,075,000
Assumable Rate
2.94%
Remaining Balance
$593,000
Equity Gap
$482,000
Loan Type
VAAdjust Your Scenario
$53,750
$53,750$482,000
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 2.94% + gap loan
$5,475/moAssumed loan: $2,481/mo
Gap financing: $2,994/mo
$980less per month with the assumable
Your Savings on This Property
102 Bald Eagle View, Divide · 2.94% VA vs 6.5% conventional
$980
per month
$11,756
per year
$352,672
over 30 years
$352,672
interest saved
How gap financing works: The equity gap ($482,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($428,250 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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