Loan Comparison: 2.77% vs 6.5%
1012 Sonoma Circle, Longmont, CO 80504 · 5bd/3ba · $399,999
List Price
$399,999
Assumable Rate
2.77%
Remaining Balance
$185,733
Equity Gap
$214,265
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$214,265
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.77% + gap loan
$2,119/moAssumed loan: $760/mo
Gap financing: $1,358/mo
$283less per month with the assumable
Your Savings on This Property
1012 Sonoma Circle, Longmont · 2.77% VA vs 6.5% conventional
$283
per month
$3,400
per year
$101,994
over 30 years
$101,993
interest saved
How gap financing works: The equity gap ($214,265) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($194,265 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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