Loan Comparison: 2.83% vs 6.5%
1408 Leahy, Fort Collins, CO 80526 · 4bd/4ba · $725,000
List Price
$725,000
Assumable Rate
2.83%
Remaining Balance
$387,416
Equity Gap
$334,865
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$334,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.83% + gap loan
$3,894/moAssumed loan: $1,598/mo
Gap financing: $2,296/mo
$459less per month with the assumable
Your Savings on This Property
1408 Leahy, Fort Collins · 2.83% VA vs 6.5% conventional
$459
per month
$5,511
per year
$165,320
over 30 years
$162,601
interest saved
How gap financing works: The equity gap ($334,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($298,615 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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