Loan Comparison: 3.16% vs 6.5%
3031 Eastborough, Fort Collins, CO 80525 · 5bd/2ba · $535,000
List Price
$535,000
Assumable Rate
3.16%
Remaining Balance
$319,286
Equity Gap
$215,714
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$215,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.16% + gap loan
$2,827/moAssumed loan: $1,374/mo
Gap financing: $1,453/mo
$386less per month with the assumable
Your Savings on This Property
3031 Eastborough, Fort Collins · 3.16% VA vs 6.5% conventional
$386
per month
$4,628
per year
$138,847
over 30 years
$138,847
interest saved
How gap financing works: The equity gap ($215,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($188,964 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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