Loan Comparison: 3.08% vs 6.5%
7474 Lake, Fountain, CO 80817 · 5bd/3ba · $435,000
List Price
$435,000
Assumable Rate
3.08%
Remaining Balance
$324,262
Equity Gap
$110,031
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$110,031
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.08% + gap loan
$2,060/moAssumed loan: $1,381/mo
Gap financing: $679/mo
$552less per month with the assumable
Your Savings on This Property
7474 Lake, Fountain · 3.08% VA vs 6.5% conventional
$552
per month
$6,625
per year
$198,750
over 30 years
$198,043
interest saved
How gap financing works: The equity gap ($110,031) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($88,281 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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