Loan Comparison: 3.47% vs 6.5%
2608 Kansas, Fort Collins, CO 80525 · 2bd/3ba · $394,000
List Price
$394,000
Assumable Rate
3.47%
Remaining Balance
$281,627
Equity Gap
$112,373
Loan Type
VAAdjust Your Scenario
$19,700
$19,700$112,373
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,366/moAssumable @ 3.47% + gap loan
$1,972/moAssumed loan: $1,260/mo
Gap financing: $713/mo
$393less per month with the assumable
Your Savings on This Property
2608 Kansas, Fort Collins · 3.47% VA vs 6.5% conventional
$393
per month
$4,720
per year
$141,601
over 30 years
$141,601
interest saved
How gap financing works: The equity gap ($112,373) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,700, 5% of purchase price) and a second mortgage for the rest ($92,673 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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