Loan Comparison: 2.94% vs 6.5%
914 Daffodil Street, Fountain, CO 80817 · 5bd/4ba · $425,000
List Price
$425,000
Assumable Rate
2.94%
Remaining Balance
$315,149
Equity Gap
$109,851
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$109,851
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.94% + gap loan
$1,938/moAssumed loan: $1,319/mo
Gap financing: $620/mo
$614less per month with the assumable
Your Savings on This Property
914 Daffodil Street, Fountain · 2.94% VA vs 6.5% conventional
$614
per month
$7,368
per year
$221,025
over 30 years
$221,025
interest saved
How gap financing works: The equity gap ($109,851) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($88,601 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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