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
$273,756
Equity Gap
$86,244
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$86,244
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.02% + gap loan
$1,682/moAssumed loan: $1,157/mo
Gap financing: $525/mo
$480less per month with the assumable
Your Savings on This Property
1429 Prado, Fountain · 3.02% VA vs 6.5% conventional
$480
per month
$5,758
per year
$172,733
over 30 years
$172,733
interest saved
How gap financing works: The equity gap ($86,244) 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 ($68,244 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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