Loan Comparison: 4.98% vs 6.5%
2087 Hibbard, Fountain, CO 80817 · 4bd/4ba · $470,000
List Price
$470,000
Assumable Rate
4.98%
Remaining Balance
$438,428
Equity Gap
$31,572
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$31,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 4.98% + gap loan
$2,410/moAssumed loan: $2,348/mo
Gap financing: $62/mo
$412less per month with the assumable
Your Savings on This Property
2087 Hibbard, Fountain · 4.98% VA vs 6.5% conventional
$412
per month
$4,943
per year
$148,283
over 30 years
$148,283
interest saved
How gap financing works: The equity gap ($31,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($8,072 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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