Loan Comparison: 3.56% vs 6.5%
604 Fountain Mesa Road, Fountain, CO 80817 · 3bd/3ba · $405,000
List Price
$405,000
Assumable Rate
3.56%
Remaining Balance
$363,366
Equity Gap
$41,634
Loan Type
VAAdjust Your Scenario
$20,250
$20,250$41,634
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.56% + gap loan
$1,793/moAssumed loan: $1,644/mo
Gap financing: $150/mo
$638less per month with the assumable
Your Savings on This Property
604 Fountain Mesa Road, Fountain · 3.56% VA vs 6.5% conventional
$638
per month
$7,662
per year
$229,857
over 30 years
$229,857
interest saved
How gap financing works: The equity gap ($41,634) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($21,384 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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