Loan Comparison: 2.74% vs 6.5%
3506 Valleywood, Johnstown, CO 80534 · 2bd/3ba · $370,000
List Price
$370,000
Assumable Rate
2.74%
Remaining Balance
$292,360
Equity Gap
$77,639
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$77,639
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.74% + gap loan
$1,647/moAssumed loan: $1,192/mo
Gap financing: $455/mo
$575less per month with the assumable
Your Savings on This Property
3506 Valleywood, Johnstown · 2.74% VA vs 6.5% conventional
$575
per month
$6,900
per year
$207,002
over 30 years
$207,001
interest saved
How gap financing works: The equity gap ($77,639) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($59,139 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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