Loan Comparison: 2.99% vs 6.5%
5614 Carmon, Windsor, CO 80550 · 6bd/4ba · $615,000
List Price
$615,000
Assumable Rate
2.99%
Remaining Balance
$498,209
Equity Gap
$115,691
Loan Type
VAAdjust Your Scenario
$30,750
$30,750$115,691
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 2.99% + gap loan
$2,751/moAssumed loan: $2,098/mo
Gap financing: $653/mo
$942less per month with the assumable
Your Savings on This Property
5614 Carmon, Windsor · 2.99% VA vs 6.5% conventional
$942
per month
$11,303
per year
$339,103
over 30 years
$338,003
interest saved
How gap financing works: The equity gap ($115,691) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($84,941 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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