Loan Comparison: 2.83% vs 6.5%
1504 Persian, Loveland, CO 80537 · 4bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.83%
Remaining Balance
$387,163
Equity Gap
$142,837
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$142,837
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.83% + gap loan
$2,492/moAssumed loan: $1,597/mo
Gap financing: $895/mo
$691less per month with the assumable
Your Savings on This Property
1504 Persian, Loveland · 2.83% VA vs 6.5% conventional
$691
per month
$8,291
per year
$248,731
over 30 years
$248,731
interest saved
How gap financing works: The equity gap ($142,837) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($116,337 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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