Loan Comparison: 3.8% vs 6.5%
2640 Glendevey, Loveland, CO 80538 · 3bd/2ba · $490,000
List Price
$490,000
Assumable Rate
3.8%
Remaining Balance
$301,636
Equity Gap
$226,989
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$226,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.8% + gap loan
$2,962/moAssumed loan: $1,405/mo
Gap financing: $1,557/mo
Your Savings on This Property
2640 Glendevey, Loveland · 3.8% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$31,359
interest saved
How gap financing works: The equity gap ($226,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($202,489 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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