Loan Comparison: 3% vs 6.5%
1108 Beech Street, Fort Collins, CO 80550 · 4bd/3ba · $590,000
List Price
$590,000
Assumable Rate
3%
Remaining Balance
$484,340
Equity Gap
$105,660
Loan Type
VAAdjust Your Scenario
$29,500
$29,500$105,660
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3% + gap loan
$2,575/moAssumed loan: $2,042/mo
Gap financing: $533/mo
$968less per month with the assumable
Your Savings on This Property
1108 Beech Street, Fort Collins · 3% VA vs 6.5% conventional
$968
per month
$11,619
per year
$348,560
over 30 years
$348,560
interest saved
How gap financing works: The equity gap ($105,660) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($76,160 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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