Loan Comparison: 3.23% vs 6.5%
7570 Prasanna, Fountain, CO 80817 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.23%
Remaining Balance
$288,886
Equity Gap
$138,463
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$138,463
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.23% + gap loan
$2,155/moAssumed loan: $1,254/mo
Gap financing: $901/mo
$397less per month with the assumable
Your Savings on This Property
7570 Prasanna, Fountain · 3.23% VA vs 6.5% conventional
$397
per month
$4,760
per year
$142,786
over 30 years
$145,135
interest saved
How gap financing works: The equity gap ($138,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($117,213 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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