Loan Comparison: 3.85% vs 6.5%
6402 Foothills View, Fort Collins, CO 80528 · 6bd/6ba · $1,399,000
List Price
$1,399,000
Assumable Rate
3.85%
Remaining Balance
$693,412
Equity Gap
$702,712
Loan Type
VAAdjust Your Scenario
$69,950
$69,950$702,712
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,401/moAssumable @ 3.85% + gap loan
$8,116/moAssumed loan: $3,251/mo
Gap financing: $4,865/mo
$284less per month with the assumable
Your Savings on This Property
6402 Foothills View, Fort Collins · 3.85% VA vs 6.5% conventional
$284
per month
$3,412
per year
$102,361
over 30 years
$99,485
interest saved
How gap financing works: The equity gap ($702,712) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($69,950, 5% of purchase price) and a second mortgage for the rest ($632,762 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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