Loan Comparison: 6.85% vs 6.5%
5046 Rangeview Avenue, Longmont, CO 80504 · 4bd/3ba · $725,000
List Price
$725,000
Assumable Rate
6.85%
Remaining Balance
$626,294
Equity Gap
$98,706
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$98,706
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.85% (VA)
Blended Rate: 6.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 6.85% + gap loan
$4,541/moAssumed loan: $4,104/mo
Gap financing: $437/mo
Your Savings on This Property
5046 Rangeview Avenue, Longmont · 6.85% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($98,706) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($62,456 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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