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
$396,454
Equity Gap
$128,545
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$128,545
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.87% + gap loan
$2,430/moAssumed loan: $1,644/mo
Gap financing: $787/mo
$722less per month with the assumable
Your Savings on This Property
6908 Clarke, Frederick · 2.87% VA vs 6.5% conventional
$722
per month
$8,665
per year
$259,949
over 30 years
$259,948
interest saved
How gap financing works: The equity gap ($128,545) 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 ($102,295 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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