Loan Comparison: 3% vs 6.5%
7335 Willowdale Drive, Fountain, CO 80817 · 2bd/2ba · $419,900
List Price
$419,900
Assumable Rate
3%
Remaining Balance
$203,057
Equity Gap
$216,842
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$216,842
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 3% + gap loan
$2,225/moAssumed loan: $856/mo
Gap financing: $1,369/mo
$296less per month with the assumable
Your Savings on This Property
7335 Willowdale Drive, Fountain · 3% VA vs 6.5% conventional
$296
per month
$3,550
per year
$106,511
over 30 years
$106,510
interest saved
How gap financing works: The equity gap ($216,842) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($195,847 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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