Loan Comparison: 2.98% vs 6.5%
7225 Franconia, Fountain, CO 80817 · 4bd/3ba · $400,000
List Price
$400,000
Assumable Rate
2.98%
Remaining Balance
$372,785
Equity Gap
$27,214
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$27,214
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.98% + gap loan
$1,623/moAssumed loan: $1,568/mo
Gap financing: $55/mo
$779less per month with the assumable
Your Savings on This Property
7225 Franconia, Fountain · 2.98% VA vs 6.5% conventional
$779
per month
$9,345
per year
$280,343
over 30 years
$280,342
interest saved
How gap financing works: The equity gap ($27,214) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($7,214 at 8.5%). 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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