Loan Comparison: 3.13% vs 6.5%
7225 Millbrook Court, Fountain, CO 80817 · 4bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.13%
Remaining Balance
$353,977
Equity Gap
$45,922
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$45,922
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.13% + gap loan
$1,699/moAssumed loan: $1,517/mo
Gap financing: $181/mo
$703less per month with the assumable
Your Savings on This Property
7225 Millbrook Court, Fountain · 3.13% VA vs 6.5% conventional
$703
per month
$8,432
per year
$252,957
over 30 years
$252,956
interest saved
How gap financing works: The equity gap ($45,922) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($25,927 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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