Loan Comparison: 2.96% vs 6.5%
3411 Douglas, Loveland, CO 80538 · 4bd/2ba · $435,000
List Price
$435,000
Assumable Rate
2.96%
Remaining Balance
$276,271
Equity Gap
$158,729
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$158,729
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.96% + gap loan
$2,212/moAssumed loan: $1,159/mo
Gap financing: $1,053/mo
$400less per month with the assumable
Your Savings on This Property
3411 Douglas, Loveland · 2.96% VA vs 6.5% conventional
$400
per month
$4,799
per year
$143,983
over 30 years
$143,983
interest saved
How gap financing works: The equity gap ($158,729) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($136,979 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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