Loan Comparison: 2.99% vs 6.5%
405 Bimson Avenue, Berthoud, CO 80513 · 6bd/3ba · $940,000
List Price
$940,000
Assumable Rate
2.99%
Remaining Balance
$511,123
Equity Gap
$428,876
Loan Type
VAAdjust Your Scenario
$47,000
$47,000$428,876
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,644/moAssumable @ 2.99% + gap loan
$4,822/moAssumed loan: $2,152/mo
Gap financing: $2,670/mo
$822less per month with the assumable
Your Savings on This Property
405 Bimson Avenue, Berthoud · 2.99% VA vs 6.5% conventional
$822
per month
$9,865
per year
$295,947
over 30 years
$295,946
interest saved
How gap financing works: The equity gap ($428,876) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,000, 5% of purchase price) and a second mortgage for the rest ($381,876 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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