Loan Comparison: 2.83% vs 6.5%
7045 Roaring Spring, Fountain, CO 80817 · 5bd/3ba · $385,000
List Price
$385,000
Assumable Rate
2.83%
Remaining Balance
$297,824
Equity Gap
$87,175
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$87,175
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.83% + gap loan
$1,751/moAssumed loan: $1,228/mo
Gap financing: $522/mo
$561less per month with the assumable
Your Savings on This Property
7045 Roaring Spring, Fountain · 2.83% VA vs 6.5% conventional
$561
per month
$6,732
per year
$201,963
over 30 years
$201,962
interest saved
How gap financing works: The equity gap ($87,175) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($67,925 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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