Loan Comparison: 6.27% vs 6.5%
914 Oak Street, Fort Collins, CO 80521 · 3bd/3ba · $1,149,000
List Price
$1,149,000
Assumable Rate
6.27%
Remaining Balance
$940,699
Equity Gap
$208,301
Loan Type
VAAdjust Your Scenario
$57,450
$57,450$208,301
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (VA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,899/moAssumable @ 6.27% + gap loan
$6,859/moAssumed loan: $5,804/mo
Gap financing: $1,055/mo
$40less per month with the assumable
Your Savings on This Property
914 Oak Street, Fort Collins · 6.27% VA vs 6.5% conventional
$40
per month
$483
per year
$14,500
over 30 years
$14,500
interest saved
How gap financing works: The equity gap ($208,301) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,450, 5% of purchase price) and a second mortgage for the rest ($150,851 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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