Loan Comparison: 2.83% vs 6.5%
7045 Roaring Spring, Fountain, CO 80817 · 5bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.83%
Remaining Balance
$297,134
Equity Gap
$76,486
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$76,486
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.83% + gap loan
$1,670/moAssumed loan: $1,226/mo
Gap financing: $444/mo
$582less per month with the assumable
Your Savings on This Property
7045 Roaring Spring, Fountain · 2.83% VA vs 6.5% conventional
$582
per month
$6,986
per year
$209,574
over 30 years
$208,194
interest saved
How gap financing works: The equity gap ($76,486) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($57,736 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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