Loan Comparison: 2.9% vs 6.5%
1429 Prado Drive, Fountain, CO 80817 · 3bd/3ba · $359,900
List Price
$359,900
Assumable Rate
2.9%
Remaining Balance
$270,528
Equity Gap
$89,372
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$89,372
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 2.9% + gap loan
$1,625/moAssumed loan: $1,126/mo
Gap financing: $499/mo
$536less per month with the assumable
Your Savings on This Property
1429 Prado Drive, Fountain · 2.9% VA vs 6.5% conventional
$536
per month
$6,432
per year
$192,951
over 30 years
$192,951
interest saved
How gap financing works: The equity gap ($89,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($71,377 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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