Loan Comparison: 3.1% vs 6.5%
7304 Evening Moon, Fountain, CO 80817 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
3.1%
Remaining Balance
$356,427
Equity Gap
$73,573
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$73,573
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.1% + gap loan
$1,922/moAssumed loan: $1,522/mo
Gap financing: $400/mo
$660less per month with the assumable
Your Savings on This Property
7304 Evening Moon, Fountain · 3.1% VA vs 6.5% conventional
$660
per month
$7,915
per year
$237,456
over 30 years
$237,456
interest saved
How gap financing works: The equity gap ($73,573) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($52,073 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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