Loan Comparison: 2.7% vs 6.5%
3401 Larkspur Drive, Longmont, CO 80504 · 3bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.7%
Remaining Balance
$446,765
Equity Gap
$178,235
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$178,235
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.7% + gap loan
$2,840/moAssumed loan: $1,812/mo
Gap financing: $1,028/mo
$913less per month with the assumable
Your Savings on This Property
3401 Larkspur Drive, Longmont · 2.7% VA vs 6.5% conventional
$913
per month
$10,957
per year
$328,714
over 30 years
$328,714
interest saved
How gap financing works: The equity gap ($178,235) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($146,985 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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