Loan Comparison: 2.83% vs 6.5%
1050 44th, Loveland, CO 80538 · 4bd/3ba · $558,995
List Price
$558,995
Assumable Rate
2.83%
Remaining Balance
$264,222
Equity Gap
$295,386
Loan Type
VAAdjust Your Scenario
$27,950
$27,950$295,386
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,357/moAssumable @ 2.83% + gap loan
$3,146/moAssumed loan: $1,090/mo
Gap financing: $2,056/mo
$210less per month with the assumable
Your Savings on This Property
1050 44th, Loveland · 2.83% VA vs 6.5% conventional
$210
per month
$2,524
per year
$75,717
over 30 years
$76,329
interest saved
How gap financing works: The equity gap ($295,386) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,950, 5% of purchase price) and a second mortgage for the rest ($267,436 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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