Loan Comparison: 2.81% vs 6.5%
491 Homestead Lane, Johnstown, CO 80534 · 5bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.81%
Remaining Balance
$356,372
Equity Gap
$133,627
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$133,627
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.81% + gap loan
$2,229/moAssumed loan: $1,466/mo
Gap financing: $763/mo
$713less per month with the assumable
Your Savings on This Property
491 Homestead Lane, Johnstown · 2.81% VA vs 6.5% conventional
$713
per month
$8,556
per year
$256,693
over 30 years
$256,692
interest saved
How gap financing works: The equity gap ($133,627) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($109,127 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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