Loan Comparison: 2.87% vs 6.5%
10797 Hidden Prairie, Fountain, CO 80817 · 3bd/3ba · $480,000
List Price
$480,000
Assumable Rate
2.87%
Remaining Balance
$365,438
Equity Gap
$114,562
Loan Type
VAAdjust Your Scenario
$24,000
$24,000$114,562
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.87% + gap loan
$2,212/moAssumed loan: $1,515/mo
Gap financing: $696/mo
$671less per month with the assumable
Your Savings on This Property
10797 Hidden Prairie, Fountain · 2.87% VA vs 6.5% conventional
$671
per month
$8,048
per year
$241,448
over 30 years
$241,448
interest saved
How gap financing works: The equity gap ($114,562) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($90,562 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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