Loan Comparison: 2.9% vs 6.5%
2200 Cadman, Berthoud, CO 80513 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.9%
Remaining Balance
$470,555
Equity Gap
$179,445
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$179,445
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.9% + gap loan
$3,088/moAssumed loan: $1,959/mo
Gap financing: $1,130/mo
$815less per month with the assumable
Your Savings on This Property
2200 Cadman, Berthoud · 2.9% VA vs 6.5% conventional
$815
per month
$9,775
per year
$293,238
over 30 years
$293,238
interest saved
How gap financing works: The equity gap ($179,445) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($146,945 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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