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
$373,602
Equity Gap
$26,397
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$26,397
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.98% + gap loan
$1,620/moAssumed loan: $1,571/mo
Gap financing: $49/mo
$782less per month with the assumable
Your Savings on This Property
7225 Franconia, Fountain · 2.98% VA vs 6.5% conventional
$782
per month
$9,379
per year
$281,368
over 30 years
$281,367
interest saved
How gap financing works: The equity gap ($26,397) 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 ($6,397 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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