Loan Comparison: 3.16% vs 6.5%
7815 Campground, Fountain, CO 80817 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.16%
Remaining Balance
$259,542
Equity Gap
$205,458
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$205,458
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.16% + gap loan
$2,518/moAssumed loan: $1,117/mo
Gap financing: $1,401/mo
$274less per month with the assumable
Your Savings on This Property
7815 Campground, Fountain · 3.16% VA vs 6.5% conventional
$274
per month
$3,293
per year
$98,775
over 30 years
$98,775
interest saved
How gap financing works: The equity gap ($205,458) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($182,208 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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