Loan Comparison: 2.77% vs 6.5%
811 Nob Hill, Franktown, CO 80116 · 5bd/3ba · $850,000
List Price
$850,000
Assumable Rate
2.77%
Remaining Balance
$765,139
Equity Gap
$86,553
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$86,553
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.77% + gap loan
$3,470/moAssumed loan: $3,132/mo
Gap financing: $339/mo
$1,633less per month with the assumable
Your Savings on This Property
811 Nob Hill, Franktown · 2.77% VA vs 6.5% conventional
$1,633
per month
$19,602
per year
$588,058
over 30 years
$589,750
interest saved
How gap financing works: The equity gap ($86,553) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($44,053 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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