Loan Comparison: 4.12% vs 6.5%
3624 Idlewood Lane, Johnstown, CO 80534 · 5bd/4ba · $500,000
List Price
$500,000
Assumable Rate
4.12%
Remaining Balance
$195,611
Equity Gap
$304,389
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$304,389
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.12% (VA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.12% + gap loan
$2,901/moAssumed loan: $947/mo
Gap financing: $1,954/mo
$101less per month with the assumable
Your Savings on This Property
3624 Idlewood Lane, Johnstown · 4.12% VA vs 6.5% conventional
$101
per month
$1,216
per year
$36,480
over 30 years
$36,480
interest saved
How gap financing works: The equity gap ($304,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($279,389 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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