Loan Comparison: 3.16% vs 6.5%
1907 Custer Avenue, Loveland, CO 80537 · 5bd/5ba · $420,000
List Price
$420,000
Assumable Rate
3.16%
Remaining Balance
$193,671
Equity Gap
$226,328
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$226,328
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.16% + gap loan
$2,269/moAssumed loan: $833/mo
Gap financing: $1,436/mo
$253less per month with the assumable
Your Savings on This Property
1907 Custer Avenue, Loveland · 3.16% VA vs 6.5% conventional
$253
per month
$3,035
per year
$91,057
over 30 years
$91,056
interest saved
How gap financing works: The equity gap ($226,328) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($205,328 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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