Loan Comparison: 3.45% vs 6.5%
244 Ptarmigan Lane, Johnstown, CO 80534 · 4bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.45%
Remaining Balance
$436,149
Equity Gap
$48,851
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$48,851
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.45% + gap loan
$2,118/moAssumed loan: $1,946/mo
Gap financing: $172/mo
$794less per month with the assumable
Your Savings on This Property
244 Ptarmigan Lane, Johnstown · 3.45% VA vs 6.5% conventional
$794
per month
$9,527
per year
$285,800
over 30 years
$285,800
interest saved
How gap financing works: The equity gap ($48,851) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($24,601 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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