Loan Comparison: 5.54% vs 6.5%
12783 River Rock Way, Longmont, CO 80504 · 4bd/3ba · $572,000
List Price
$572,000
Assumable Rate
5.54%
Remaining Balance
$537,581
Equity Gap
$34,419
Loan Type
VAAdjust Your Scenario
$28,600
$28,600$34,419
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (VA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,435/moAssumable @ 5.54% + gap loan
$3,107/moAssumed loan: $3,066/mo
Gap financing: $41/mo
$328less per month with the assumable
Your Savings on This Property
12783 River Rock Way, Longmont · 5.54% VA vs 6.5% conventional
$328
per month
$3,938
per year
$118,130
over 30 years
$118,130
interest saved
How gap financing works: The equity gap ($34,419) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,600, 5% of purchase price) and a second mortgage for the rest ($5,819 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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