Loan Comparison: 2.98% vs 6.5%
7812 Clymer, Fountain, CO 80817 · 4bd/4ba · $480,000
List Price
$480,000
Assumable Rate
2.98%
Remaining Balance
$502,460
Equity Gap
$27,472
Loan Type
VAAdjust Your Scenario
$24,000
$24,000$27,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.98% + gap loan
$2,140/moAssumed loan: $2,113/mo
Gap financing: $27/mo
$743less per month with the assumable
Your Savings on This Property
7812 Clymer, Fountain · 2.98% VA vs 6.5% conventional
$743
per month
$8,911
per year
$267,321
over 30 years
$317,253
interest saved
How gap financing works: The equity gap ($27,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($3,472 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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