Loan Comparison: 2.84% vs 6.5%
3520 Holly, Frederick, CO 80516 · 3bd/3ba · $549,900
List Price
$549,900
Assumable Rate
2.84%
Remaining Balance
$523,264
Equity Gap
$76,595
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$76,595
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.84% + gap loan
$2,539/moAssumed loan: $2,161/mo
Gap financing: $378/mo
$763less per month with the assumable
Your Savings on This Property
3520 Holly, Frederick · 2.84% VA vs 6.5% conventional
$763
per month
$9,159
per year
$274,756
over 30 years
$324,715
interest saved
How gap financing works: The equity gap ($76,595) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($49,100 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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