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
$288,712
Equity Gap
$194,209
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$194,209
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.87% + gap loan
$2,527/moAssumed loan: $1,197/mo
Gap financing: $1,330/mo
$25less per month with the assumable
Your Savings on This Property
7343 Evening Moon, Fountain · 2.87% VA vs 6.5% conventional
$25
per month
$300
per year
$8,999
over 30 years
$66,920
interest saved
How gap financing works: The equity gap ($194,209) 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 ($172,959 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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