Loan Comparison: 3.1% vs 6.5%
933 Ponderosa Drive, Severance, CO 80550 · 5bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.1%
Remaining Balance
$474,768
Equity Gap
$45,232
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$45,232
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.1% + gap loan
$2,162/moAssumed loan: $2,027/mo
Gap financing: $134/mo
$961less per month with the assumable
Your Savings on This Property
933 Ponderosa Drive, Severance · 3.1% VA vs 6.5% conventional
$961
per month
$11,527
per year
$345,818
over 30 years
$345,818
interest saved
How gap financing works: The equity gap ($45,232) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($19,232 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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