Loan Comparison: 2.88% vs 6.5%
7447 Araia Drive, Fountain, CO 80817 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.88%
Remaining Balance
$390,732
Equity Gap
$124,268
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$124,268
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.88% + gap loan
$2,311/moAssumed loan: $1,622/mo
Gap financing: $689/mo
$781less per month with the assumable
Your Savings on This Property
7447 Araia Drive, Fountain · 2.88% VA vs 6.5% conventional
$781
per month
$9,377
per year
$281,296
over 30 years
$281,296
interest saved
How gap financing works: The equity gap ($124,268) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($98,518 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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