Loan Comparison: 3.16% vs 6.5%
3601 Ponderosa, Evans, CO 80620 · 1bd/1ba · $205,000
List Price
$205,000
Assumable Rate
3.16%
Remaining Balance
$159,957
Equity Gap
$62,689
Loan Type
VAAdjust Your Scenario
$10,250
$10,250$62,689
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,231/moAssumable @ 3.16% + gap loan
$1,091/moAssumed loan: $688/mo
Gap financing: $403/mo
$139less per month with the assumable
Your Savings on This Property
3601 Ponderosa, Evans · 3.16% VA vs 6.5% conventional
$139
per month
$1,674
per year
$50,211
over 30 years
$67,857
interest saved
How gap financing works: The equity gap ($62,689) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,250, 5% of purchase price) and a second mortgage for the rest ($52,439 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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