Loan Comparison: 3.06% vs 6.5%
413 Park, Fort Collins, CO 80525 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
3.06%
Remaining Balance
$291,336
Equity Gap
$283,664
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$283,664
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.06% + gap loan
$3,198/moAssumed loan: $1,238/mo
Gap financing: $1,960/mo
$255less per month with the assumable
Your Savings on This Property
413 Park, Fort Collins · 3.06% VA vs 6.5% conventional
$255
per month
$3,058
per year
$91,754
over 30 years
$91,754
interest saved
How gap financing works: The equity gap ($283,664) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($254,914 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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