Loan Comparison: 3.62% vs 6.5%
1102 Fenwick, Fort Collins, CO 80524 · 3bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.62%
Remaining Balance
$299,913
Equity Gap
$183,123
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$183,123
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.62% + gap loan
$2,589/moAssumed loan: $1,367/mo
Gap financing: $1,222/mo
$324less per month with the assumable
Your Savings on This Property
1102 Fenwick, Fort Collins · 3.62% VA vs 6.5% conventional
$324
per month
$3,885
per year
$116,548
over 30 years
$114,584
interest saved
How gap financing works: The equity gap ($183,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($158,873 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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