Loan Comparison: 2.81% vs 6.5%
7 Lazy W, Fountain, CO 80817 · 5bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.81%
Remaining Balance
$436,000
Equity Gap
$101,952
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$101,952
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.81% + gap loan
$2,389/moAssumed loan: $1,794/mo
Gap financing: $596/mo
$553less per month with the assumable
Your Savings on This Property
7 Lazy W, Fountain · 2.81% VA vs 6.5% conventional
$553
per month
$6,635
per year
$199,051
over 30 years
$247,003
interest saved
How gap financing works: The equity gap ($101,952) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($77,452 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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