Loan Comparison: 4.15% vs 6.5%
7142 Araia, Fountain, CO 80817 · 5bd/3ba · $471,900
List Price
$471,900
Assumable Rate
4.15%
Remaining Balance
$236,618
Equity Gap
$234,697
Loan Type
VAAdjust Your Scenario
$23,595
$23,595$234,697
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (VA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,834/moAssumable @ 4.15% + gap loan
$2,773/moAssumed loan: $1,150/mo
Gap financing: $1,623/mo
$60less per month with the assumable
Your Savings on This Property
7142 Araia, Fountain · 4.15% VA vs 6.5% conventional
$60
per month
$722
per year
$21,669
over 30 years
$21,084
interest saved
How gap financing works: The equity gap ($234,697) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,595, 5% of purchase price) and a second mortgage for the rest ($211,102 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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