Loan Comparison: 2.87% vs 6.5%
7595 Barn Owl, Fountain, CO 80817 · 5bd/3ba · $439,000
List Price
$439,000
Assumable Rate
2.87%
Remaining Balance
$406,036
Equity Gap
$32,963
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$32,963
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 2.87% + gap loan
$1,768/moAssumed loan: $1,684/mo
Gap financing: $85/mo
$868less per month with the assumable
Your Savings on This Property
7595 Barn Owl, Fountain · 2.87% VA vs 6.5% conventional
$868
per month
$10,414
per year
$312,419
over 30 years
$312,418
interest saved
How gap financing works: The equity gap ($32,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($11,013 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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