Loan Comparison: 3.09% vs 6.5%
11806 Beasly Road, Longmont, CO 80504 · 3bd/3ba · $815,000
List Price
$815,000
Assumable Rate
3.09%
Remaining Balance
$366,538
Equity Gap
$448,462
Loan Type
VAAdjust Your Scenario
$40,750
$40,750$448,462
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,894/moAssumable @ 3.09% + gap loan
$4,414/moAssumed loan: $1,563/mo
Gap financing: $2,851/mo
$480less per month with the assumable
Your Savings on This Property
11806 Beasly Road, Longmont · 3.09% VA vs 6.5% conventional
$480
per month
$5,758
per year
$172,734
over 30 years
$172,734
interest saved
How gap financing works: The equity gap ($448,462) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,750, 5% of purchase price) and a second mortgage for the rest ($407,712 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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