Loan Comparison: 2.83% vs 6.5%
1408 Leahy, Fort Collins, CO 80526 · 4bd/4ba · $743,900
List Price
$743,900
Assumable Rate
2.83%
Remaining Balance
$521,706
Equity Gap
$353,765
Loan Type
VAAdjust Your Scenario
$37,195
$37,195$353,765
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,467/moAssumable @ 2.83% + gap loan
$4,586/moAssumed loan: $2,152/mo
Gap financing: $2,434/mo
Your Savings on This Property
1408 Leahy, Fort Collins · 2.83% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$88,629
interest saved
How gap financing works: The equity gap ($353,765) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,195, 5% of purchase price) and a second mortgage for the rest ($316,570 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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