Loan Comparison: 5.89% vs 6.5%
1325 Southmoor Drive, Fountain, CO 80817 · 3bd/3ba · $360,000
List Price
$360,000
Assumable Rate
5.89%
Remaining Balance
$328,120
Equity Gap
$31,879
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$31,879
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.89% (VA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 5.89% + gap loan
$2,041/moAssumed loan: $1,944/mo
Gap financing: $97/mo
$121less per month with the assumable
Your Savings on This Property
1325 Southmoor Drive, Fountain · 5.89% VA vs 6.5% conventional
$121
per month
$1,446
per year
$43,390
over 30 years
$43,389
interest saved
How gap financing works: The equity gap ($31,879) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($13,879 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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