Loan Comparison: 2.87% vs 6.5%
6908 Clarke, Frederick, CO 80530 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.87%
Remaining Balance
$395,574
Equity Gap
$129,425
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$129,425
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.87% + gap loan
$2,433/moAssumed loan: $1,640/mo
Gap financing: $793/mo
$719less per month with the assumable
Your Savings on This Property
6908 Clarke, Frederick · 2.87% VA vs 6.5% conventional
$719
per month
$8,628
per year
$258,827
over 30 years
$258,826
interest saved
How gap financing works: The equity gap ($129,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($103,175 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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