Loan Comparison: 3.85% vs 6.5%
6402 Foothills View, Fort Collins, CO 80528 · 6bd/6ba · $1,575,000
List Price
$1,575,000
Assumable Rate
3.85%
Remaining Balance
$694,852
Equity Gap
$880,148
Loan Type
VAAdjust Your Scenario
$78,750
$78,750$880,148
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,457/moAssumable @ 3.85% + gap loan
$9,420/moAssumed loan: $3,258/mo
Gap financing: $6,162/mo
$38less per month with the assumable
Your Savings on This Property
6402 Foothills View, Fort Collins · 3.85% VA vs 6.5% conventional
$38
per month
$453
per year
$13,585
over 30 years
$13,585
interest saved
How gap financing works: The equity gap ($880,148) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($78,750, 5% of purchase price) and a second mortgage for the rest ($801,398 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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