Loan Comparison: 3.02% vs 6.5%
1429 Prado, Fountain, CO 80817 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
3.02%
Remaining Balance
$274,384
Equity Gap
$85,616
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$85,616
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.02% + gap loan
$1,680/moAssumed loan: $1,160/mo
Gap financing: $520/mo
$482less per month with the assumable
Your Savings on This Property
1429 Prado, Fountain · 3.02% VA vs 6.5% conventional
$482
per month
$5,784
per year
$173,516
over 30 years
$173,516
interest saved
How gap financing works: The equity gap ($85,616) 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 ($67,616 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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