Loan Comparison: 3.45% vs 6.5%
6962 Fargo Trail, Littleton, CO 80125 · 2bd/2ba · $695,000
List Price
$695,000
Assumable Rate
3.45%
Remaining Balance
$340,282
Equity Gap
$354,717
Loan Type
VAAdjust Your Scenario
$34,750
$34,750$354,717
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,173/moAssumable @ 3.45% + gap loan
$3,756/moAssumed loan: $1,519/mo
Gap financing: $2,237/mo
$417less per month with the assumable
Your Savings on This Property
6962 Fargo Trail, Littleton · 3.45% VA vs 6.5% conventional
$417
per month
$5,009
per year
$150,277
over 30 years
$150,276
interest saved
How gap financing works: The equity gap ($354,717) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,750, 5% of purchase price) and a second mortgage for the rest ($319,967 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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