Loan Comparison: 2.9% vs 6.5%
2040 Fairweather Way, Fountain, CO 80817 · 3bd/2ba · $350,000
List Price
$350,000
Assumable Rate
2.9%
Remaining Balance
$297,540
Equity Gap
$52,460
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$52,460
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 2.9% + gap loan
$1,483/moAssumed loan: $1,238/mo
Gap financing: $244/mo
$619less per month with the assumable
Your Savings on This Property
2040 Fairweather Way, Fountain · 2.9% VA vs 6.5% conventional
$619
per month
$7,425
per year
$222,743
over 30 years
$222,743
interest saved
How gap financing works: The equity gap ($52,460) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($34,960 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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