Loan Comparison: 3.12% vs 6.5%
4440 Prairie Street, Cascade, CO 80809 · 3bd/2ba · $579,999
List Price
$579,999
Assumable Rate
3.12%
Remaining Balance
$482,932
Equity Gap
$97,066
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$97,066
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.12% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 3.12% + gap loan
$2,543/moAssumed loan: $2,067/mo
Gap financing: $476/mo
$939less per month with the assumable
Your Savings on This Property
4440 Prairie Street, Cascade · 3.12% VA vs 6.5% conventional
$939
per month
$11,272
per year
$338,153
over 30 years
$338,152
interest saved
How gap financing works: The equity gap ($97,066) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($68,066 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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