Loan Comparison: 3.62% vs 6.5%
1102 Fenwick, Fort Collins, CO 80524 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
3.62%
Remaining Balance
$301,224
Equity Gap
$193,776
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$193,776
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.62% + gap loan
$2,673/moAssumed loan: $1,373/mo
Gap financing: $1,300/mo
$300less per month with the assumable
Your Savings on This Property
1102 Fenwick, Fort Collins · 3.62% VA vs 6.5% conventional
$300
per month
$3,597
per year
$107,909
over 30 years
$107,909
interest saved
How gap financing works: The equity gap ($193,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($169,026 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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