Loan Comparison: 2.87% vs 6.5%
7343 Evening Moon, Fountain, CO 80817 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
2.87%
Remaining Balance
$230,282
Equity Gap
$194,717
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$194,717
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.87% + gap loan
$2,289/moAssumed loan: $955/mo
Gap financing: $1,334/mo
$263less per month with the assumable
Your Savings on This Property
7343 Evening Moon, Fountain · 2.87% VA vs 6.5% conventional
$263
per month
$3,160
per year
$94,808
over 30 years
$94,807
interest saved
How gap financing works: The equity gap ($194,717) 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 ($173,467 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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