Loan Comparison: 2.97% vs 6.5%
7316 Josh Byers Way, Fountain, CO 80817 · 4bd/3ba · $429,900
List Price
$429,900
Assumable Rate
2.97%
Remaining Balance
$373,141
Equity Gap
$56,758
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$56,758
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 3.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 2.97% + gap loan
$1,814/moAssumed loan: $1,567/mo
Gap financing: $247/mo
$768less per month with the assumable
Your Savings on This Property
7316 Josh Byers Way, Fountain · 2.97% VA vs 6.5% conventional
$768
per month
$9,212
per year
$276,367
over 30 years
$276,366
interest saved
How gap financing works: The equity gap ($56,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($35,263 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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