Loan Comparison: 5.22% vs 6.5%
2055 Hibbard Lane, Fountain, CO 80817 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
5.22%
Remaining Balance
$452,634
Equity Gap
$37,366
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$37,366
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 5.22% + gap loan
$2,581/moAssumed loan: $2,491/mo
Gap financing: $90/mo
$361less per month with the assumable
Your Savings on This Property
2055 Hibbard Lane, Fountain · 5.22% VA vs 6.5% conventional
$361
per month
$4,335
per year
$130,053
over 30 years
$130,053
interest saved
How gap financing works: The equity gap ($37,366) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($12,866 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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