Loan Comparison: 4.75% vs 6.5%
7570 Prasanna, Fountain, CO 80817 · 3bd/3ba · $418,000
List Price
$418,000
Assumable Rate
4.75%
Remaining Balance
$349,610
Equity Gap
$68,390
Loan Type
VAAdjust Your Scenario
$20,900
$20,900$68,390
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,510/moAssumable @ 4.75% + gap loan
$2,189/moAssumed loan: $1,824/mo
Gap financing: $365/mo
$321less per month with the assumable
Your Savings on This Property
7570 Prasanna, Fountain · 4.75% VA vs 6.5% conventional
$321
per month
$3,853
per year
$115,579
over 30 years
$115,579
interest saved
How gap financing works: The equity gap ($68,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,900, 5% of purchase price) and a second mortgage for the rest ($47,490 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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