Loan Comparison: 2.99% vs 6.5%
210 Peppler, Longmont, CO 80504 · 6bd/5ba · $669,000
List Price
$669,000
Assumable Rate
2.99%
Remaining Balance
$504,604
Equity Gap
$164,396
Loan Type
VAAdjust Your Scenario
$33,450
$33,450$164,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,017/moAssumable @ 2.99% + gap loan
$3,132/moAssumed loan: $2,125/mo
Gap financing: $1,007/mo
$886less per month with the assumable
Your Savings on This Property
210 Peppler, Longmont · 2.99% VA vs 6.5% conventional
$886
per month
$10,626
per year
$318,793
over 30 years
$318,793
interest saved
How gap financing works: The equity gap ($164,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,450, 5% of purchase price) and a second mortgage for the rest ($130,946 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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