Loan Comparison: 3.08% vs 6.5%
7225 Millbrook Court, Fountain, CO 80817 · 4bd/4ba · $399,900
List Price
$399,900
Assumable Rate
3.08%
Remaining Balance
$353,648
Equity Gap
$46,252
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$46,252
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.08% + gap loan
$1,690/moAssumed loan: $1,506/mo
Gap financing: $184/mo
$711less per month with the assumable
Your Savings on This Property
7225 Millbrook Court, Fountain · 3.08% VA vs 6.5% conventional
$711
per month
$8,536
per year
$256,093
over 30 years
$256,093
interest saved
How gap financing works: The equity gap ($46,252) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($26,257 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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