Loan Comparison: 2.98% vs 6.5%
473 Routt, Loveland, CO 80538 · 6bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.98%
Remaining Balance
$548,250
Equity Gap
$156,232
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$156,232
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.98% + gap loan
$3,257/moAssumed loan: $2,306/mo
Gap financing: $951/mo
$646less per month with the assumable
Your Savings on This Property
473 Routt, Loveland · 2.98% VA vs 6.5% conventional
$646
per month
$7,753
per year
$232,594
over 30 years
$287,076
interest saved
How gap financing works: The equity gap ($156,232) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($123,732 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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