Loan Comparison: 6.44% vs 6.5%
7704 Braxton Drive, Fountain, CO 80817 · 4bd/3ba · $540,000
List Price
$540,000
Assumable Rate
6.44%
Remaining Balance
$488,233
Equity Gap
$51,767
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$51,767
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.44% (VA)
Blended Rate: 6.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 6.44% + gap loan
$3,240/moAssumed loan: $3,067/mo
Gap financing: $173/mo
$3less per month with the assumable
Your Savings on This Property
7704 Braxton Drive, Fountain · 6.44% VA vs 6.5% conventional
$3
per month
$31
per year
$940
over 30 years
$940
interest saved
How gap financing works: The equity gap ($51,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($24,767 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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