Loan Comparison: 3.46% vs 6.5%
2521 Danbury, Longmont, CO 80503 · 5bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.46%
Remaining Balance
$223,236
Equity Gap
$149,325
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$149,325
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.46% + gap loan
$2,001/moAssumed loan: $997/mo
Gap financing: $1,004/mo
$250less per month with the assumable
Your Savings on This Property
2521 Danbury, Longmont · 3.46% VA vs 6.5% conventional
$250
per month
$3,003
per year
$90,102
over 30 years
$87,663
interest saved
How gap financing works: The equity gap ($149,325) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($130,575 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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