Loan Comparison: 6.62% vs 6.5%
1640 Amherst Drive, Longmont, CO 80503 · 3bd/3ba · $650,000
List Price
$650,000
Assumable Rate
6.62%
Remaining Balance
$585,721
Equity Gap
$64,279
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$64,279
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.62% (VA)
Blended Rate: 6.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 6.62% + gap loan
$3,971/moAssumed loan: $3,748/mo
Gap financing: $222/mo
Your Savings on This Property
1640 Amherst Drive, Longmont · 6.62% 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 ($64,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($31,779 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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