Loan Comparison: 2.99% vs 6.5%
5614 Carmon, Windsor, CO 80550 · 6bd/4ba · $649,000
List Price
$649,000
Assumable Rate
2.99%
Remaining Balance
$499,309
Equity Gap
$149,691
Loan Type
VAAdjust Your Scenario
$32,450
$32,450$149,691
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,897/moAssumable @ 2.99% + gap loan
$3,004/moAssumed loan: $2,102/mo
Gap financing: $901/mo
$893less per month with the assumable
Your Savings on This Property
5614 Carmon, Windsor · 2.99% VA vs 6.5% conventional
$893
per month
$10,717
per year
$321,523
over 30 years
$321,523
interest saved
How gap financing works: The equity gap ($149,691) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,450, 5% of purchase price) and a second mortgage for the rest ($117,241 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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