Loan Comparison: 2.8% vs 6.5%
585 Blossom Field Road, Fountain, CO 80817 · 3bd/3ba · $340,000
List Price
$340,000
Assumable Rate
2.8%
Remaining Balance
$308,803
Equity Gap
$31,197
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$31,197
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.8% + gap loan
$1,368/moAssumed loan: $1,269/mo
Gap financing: $99/mo
$673less per month with the assumable
Your Savings on This Property
585 Blossom Field Road, Fountain · 2.8% VA vs 6.5% conventional
$673
per month
$8,081
per year
$242,445
over 30 years
$242,445
interest saved
How gap financing works: The equity gap ($31,197) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($14,197 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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