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
$382,765
Equity Gap
$107,134
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$107,134
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.98% + gap loan
$2,245/moAssumed loan: $1,610/mo
Gap financing: $635/mo
$697less per month with the assumable
Your Savings on This Property
7502 Willow Pines, Fountain · 2.98% VA vs 6.5% conventional
$697
per month
$8,360
per year
$250,786
over 30 years
$250,785
interest saved
How gap financing works: The equity gap ($107,134) 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 ($82,639 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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