Loan Comparison: 6.09% vs 6.5%
7764 Candlelight Lane, Fountain, CO 80817 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
6.09%
Remaining Balance
$520,490
Equity Gap
$29,510
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$29,510
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.09% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 6.09% + gap loan
$3,165/moAssumed loan: $3,151/mo
Gap financing: $14/mo
$138less per month with the assumable
Your Savings on This Property
7764 Candlelight Lane, Fountain · 6.09% VA vs 6.5% conventional
$138
per month
$1,653
per year
$49,579
over 30 years
$49,579
interest saved
How gap financing works: The equity gap ($29,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($2,010 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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