Loan Comparison: 2.9% vs 6.5%
914 Daffodil Street, Fountain, CO 80817 · 3bd/2ba · $425,000
List Price
$425,000
Assumable Rate
2.9%
Remaining Balance
$314,877
Equity Gap
$110,123
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$110,123
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.9% + gap loan
$1,932/moAssumed loan: $1,311/mo
Gap financing: $621/mo
$620less per month with the assumable
Your Savings on This Property
914 Daffodil Street, Fountain · 2.9% VA vs 6.5% conventional
$620
per month
$7,439
per year
$223,182
over 30 years
$223,182
interest saved
How gap financing works: The equity gap ($110,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($88,873 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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