Loan Comparison: 2.8% vs 6.5%
304 Tigercat Way, Fort Collins, CO 80524 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.8%
Remaining Balance
$351,582
Equity Gap
$138,417
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$138,417
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.8% + gap loan
$2,241/moAssumed loan: $1,445/mo
Gap financing: $797/mo
$701less per month with the assumable
Your Savings on This Property
304 Tigercat Way, Fort Collins · 2.8% VA vs 6.5% conventional
$701
per month
$8,413
per year
$252,404
over 30 years
$252,403
interest saved
How gap financing works: The equity gap ($138,417) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($113,917 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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