Loan Comparison: 2.9% vs 6.5%
121 Missouri Avenue, Fountain, CO 80817 · 3bd/2ba · $340,000
List Price
$340,000
Assumable Rate
2.9%
Remaining Balance
$272,971
Equity Gap
$67,029
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$67,029
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.9% + gap loan
$1,486/moAssumed loan: $1,136/mo
Gap financing: $350/mo
$556less per month with the assumable
Your Savings on This Property
121 Missouri Avenue, Fountain · 2.9% VA vs 6.5% conventional
$556
per month
$6,667
per year
$200,010
over 30 years
$200,010
interest saved
How gap financing works: The equity gap ($67,029) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($50,029 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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