Loan Comparison: 3.47% vs 6.5%
2608 Kansas, Fort Collins, CO 80525 · 2bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.47%
Remaining Balance
$280,382
Equity Gap
$92,753
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$92,753
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.47% + gap loan
$1,823/moAssumed loan: $1,254/mo
Gap financing: $569/mo
$428less per month with the assumable
Your Savings on This Property
2608 Kansas, Fort Collins · 3.47% VA vs 6.5% conventional
$428
per month
$5,140
per year
$154,214
over 30 years
$152,349
interest saved
How gap financing works: The equity gap ($92,753) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($74,003 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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