Loan Comparison: 2.77% vs 6.5%
3396 Leopard, Loveland, CO 80537 · 4bd/3ba · $620,000
List Price
$620,000
Assumable Rate
2.77%
Remaining Balance
$285,010
Equity Gap
$334,334
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$334,334
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.77% + gap loan
$3,499/moAssumed loan: $1,167/mo
Gap financing: $2,332/mo
$224less per month with the assumable
Your Savings on This Property
3396 Leopard, Loveland · 2.77% VA vs 6.5% conventional
$224
per month
$2,687
per year
$80,624
over 30 years
$79,968
interest saved
How gap financing works: The equity gap ($334,334) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($303,334 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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