Loan Comparison: 2.2% vs 6.5%
187 Green Teal, Loveland, CO 80537 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
2.2%
Remaining Balance
$183,188
Equity Gap
$274,404
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$274,404
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.2% (VA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.2% + gap loan
$2,632/moAssumed loan: $696/mo
Gap financing: $1,937/mo
$70less per month with the assumable
Your Savings on This Property
187 Green Teal, Loveland · 2.2% VA vs 6.5% conventional
$70
per month
$835
per year
$25,056
over 30 years
$32,648
interest saved
How gap financing works: The equity gap ($274,404) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($251,904 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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