Loan Comparison: 2.8% vs 6.5%
7505 Dobbs Drive, Fountain, CO 80817 · 4bd/3ba · $369,999
List Price
$369,999
Assumable Rate
2.8%
Remaining Balance
$280,096
Equity Gap
$89,902
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$89,902
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.8% + gap loan
$1,650/moAssumed loan: $1,151/mo
Gap financing: $499/mo
$572less per month with the assumable
Your Savings on This Property
7505 Dobbs Drive, Fountain · 2.8% VA vs 6.5% conventional
$572
per month
$6,859
per year
$205,762
over 30 years
$205,761
interest saved
How gap financing works: The equity gap ($89,902) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($71,402 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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