Loan Comparison: 2.77% vs 6.5%
7362 Sandy Springs, Fountain, CO 80817 · 3bd/3ba · $319,947
List Price
$319,947
Assumable Rate
2.77%
Remaining Balance
$176,648
Equity Gap
$143,299
Loan Type
VAAdjust Your Scenario
$15,997
$15,997$143,299
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 2.77% + gap loan
$1,702/moAssumed loan: $723/mo
Gap financing: $979/mo
$219less per month with the assumable
Your Savings on This Property
7362 Sandy Springs, Fountain · 2.77% VA vs 6.5% conventional
$219
per month
$2,632
per year
$78,949
over 30 years
$78,950
interest saved
How gap financing works: The equity gap ($143,299) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,997, 5% of purchase price) and a second mortgage for the rest ($127,302 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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