Loan Comparison: 2.74% vs 6.5%
3506 Valleywood, Johnstown, CO 80534 · 2bd/3ba · $360,000
List Price
$360,000
Assumable Rate
2.74%
Remaining Balance
$292,360
Equity Gap
$66,291
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$66,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.74% + gap loan
$1,563/moAssumed loan: $1,192/mo
Gap financing: $371/mo
$598less per month with the assumable
Your Savings on This Property
3506 Valleywood, Johnstown · 2.74% VA vs 6.5% conventional
$598
per month
$7,180
per year
$215,413
over 30 years
$214,064
interest saved
How gap financing works: The equity gap ($66,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($48,291 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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