Loan Comparison: 7.46% vs 6.5%
2656 Long Lane, Lafayette, CO 80026 · 4bd/4ba · $894,000
List Price
$894,000
Assumable Rate
7.46%
Remaining Balance
$808,794
Equity Gap
$85,205
Loan Type
VAAdjust Your Scenario
$44,700
$44,700$85,205
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.46% (VA)
Blended Rate: 7.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,368/moAssumable @ 7.46% + gap loan
$5,916/moAssumed loan: $5,633/mo
Gap financing: $283/mo
Your Savings on This Property
2656 Long Lane, Lafayette · 7.46% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($85,205) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,700, 5% of purchase price) and a second mortgage for the rest ($40,505 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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