Loan Comparison: 2.7% vs 6.5%
601 Rye Ridge Road, Fountain, CO 80817 · 5bd/3ba · $415,000
List Price
$415,000
Assumable Rate
2.7%
Remaining Balance
$326,948
Equity Gap
$88,051
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$88,051
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.7% + gap loan
$1,797/moAssumed loan: $1,326/mo
Gap financing: $471/mo
$695less per month with the assumable
Your Savings on This Property
601 Rye Ridge Road, Fountain · 2.7% VA vs 6.5% conventional
$695
per month
$8,343
per year
$250,292
over 30 years
$250,291
interest saved
How gap financing works: The equity gap ($88,051) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($67,301 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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