Loan Comparison: 4.02% vs 6.5%
4220 Promontory Court, Loveland, CO 80537 · 2bd/2ba · $645,000
List Price
$645,000
Assumable Rate
4.02%
Remaining Balance
$314,000
Equity Gap
$330,999
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$330,999
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.02% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 4.02% + gap loan
$3,592/moAssumed loan: $1,503/mo
Gap financing: $2,089/mo
$281less per month with the assumable
Your Savings on This Property
4220 Promontory Court, Loveland · 4.02% VA vs 6.5% conventional
$281
per month
$3,377
per year
$101,302
over 30 years
$101,301
interest saved
How gap financing works: The equity gap ($330,999) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($298,749 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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