Loan Comparison: 2.77% vs 6.5%
811 Nob Hill, Franktown, CO 80116 · 5bd/3ba · $830,000
List Price
$830,000
Assumable Rate
2.77%
Remaining Balance
$758,346
Equity Gap
$71,653
Loan Type
VAAdjust Your Scenario
$41,500
$41,500$71,653
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 2.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,984/moAssumable @ 2.77% + gap loan
$3,336/moAssumed loan: $3,104/mo
Gap financing: $232/mo
$1,648less per month with the assumable
Your Savings on This Property
811 Nob Hill, Franktown · 2.77% VA vs 6.5% conventional
$1,648
per month
$19,777
per year
$593,311
over 30 years
$593,310
interest saved
How gap financing works: The equity gap ($71,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,500, 5% of purchase price) and a second mortgage for the rest ($30,153 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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