Loan Comparison: 6.74% vs 6.5%
2009 Crestridge Drive, Loveland, CO 80537 · 3bd/2ba · $690,000
List Price
$690,000
Assumable Rate
6.74%
Remaining Balance
$332,409
Equity Gap
$357,591
Loan Type
VAAdjust Your Scenario
$34,500
$34,500$357,591
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.74% (VA)
Blended Rate: 7.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 6.74% + gap loan
$4,413/moAssumed loan: $2,154/mo
Gap financing: $2,259/mo
Your Savings on This Property
2009 Crestridge Drive, Loveland · 6.74% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($357,591) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,500, 5% of purchase price) and a second mortgage for the rest ($323,091 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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