Loan Comparison: 2.98% vs 6.5%
7502 Willow Pines, Fountain, CO 80817 · 5bd/3ba · $489,900
List Price
$489,900
Assumable Rate
2.98%
Remaining Balance
$383,600
Equity Gap
$106,300
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$106,300
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.98% + gap loan
$2,242/moAssumed loan: $1,613/mo
Gap financing: $629/mo
$700less per month with the assumable
Your Savings on This Property
7502 Willow Pines, Fountain · 2.98% VA vs 6.5% conventional
$700
per month
$8,394
per year
$251,830
over 30 years
$251,830
interest saved
How gap financing works: The equity gap ($106,300) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($81,805 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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