Loan Comparison: 3.85% vs 6.5%
6402 Foothills View Place, Fort Collins, CO 80528 · 5bd/3ba · $1,325,000
List Price
$1,325,000
Assumable Rate
3.85%
Remaining Balance
$686,142
Equity Gap
$638,858
Loan Type
VAAdjust Your Scenario
$66,250
$66,250$638,858
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,956/moAssumable @ 3.85% + gap loan
$7,220/moAssumed loan: $3,217/mo
Gap financing: $4,004/mo
$736less per month with the assumable
Your Savings on This Property
6402 Foothills View Place, Fort Collins · 3.85% VA vs 6.5% conventional
$736
per month
$8,828
per year
$264,855
over 30 years
$264,855
interest saved
How gap financing works: The equity gap ($638,858) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($66,250, 5% of purchase price) and a second mortgage for the rest ($572,608 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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