Loan Comparison: 3.02% vs 6.5%
1622 Carefree, Fort Collins, CO 80525 · 4bd/4ba · $1,100,000
List Price
$1,100,000
Assumable Rate
3.02%
Remaining Balance
$547,526
Equity Gap
$703,380
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$703,380
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 3.02% + gap loan
$7,300/moAssumed loan: $2,314/mo
Gap financing: $4,985/mo
Your Savings on This Property
1622 Carefree, Fort Collins · 3.02% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($703,380) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($648,380 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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