Loan Comparison: 2.8% vs 6.5%
2973 Night Sky Drive, Berthoud, CO 80513 · 2bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.8%
Remaining Balance
$404,129
Equity Gap
$120,871
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$120,871
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.8% + gap loan
$2,322/moAssumed loan: $1,661/mo
Gap financing: $662/mo
$830less per month with the assumable
Your Savings on This Property
2973 Night Sky Drive, Berthoud · 2.8% VA vs 6.5% conventional
$830
per month
$9,964
per year
$298,905
over 30 years
$298,905
interest saved
How gap financing works: The equity gap ($120,871) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($94,621 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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