Loan Comparison: 3.08% vs 6.5%
8344 Cedar Chase, Fountain, CO 80817 · 3bd/3ba · $379,900
List Price
$379,900
Assumable Rate
3.08%
Remaining Balance
$302,564
Equity Gap
$77,336
Loan Type
VAAdjust Your Scenario
$18,995
$18,995$77,336
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,281/moAssumable @ 3.08% + gap loan
$1,737/moAssumed loan: $1,289/mo
Gap financing: $449/mo
$544less per month with the assumable
Your Savings on This Property
8344 Cedar Chase, Fountain · 3.08% VA vs 6.5% conventional
$544
per month
$6,526
per year
$195,790
over 30 years
$195,790
interest saved
How gap financing works: The equity gap ($77,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,995, 5% of purchase price) and a second mortgage for the rest ($58,341 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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