Loan Comparison: 2.77% vs 6.5%
220 Rocky Mountain, Divide, CO 80814 · 3bd/3ba · $699,000
List Price
$699,000
Assumable Rate
2.77%
Remaining Balance
$519,371
Equity Gap
$176,120
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$176,120
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.77% + gap loan
$3,211/moAssumed loan: $2,126/mo
Gap financing: $1,085/mo
$986less per month with the assumable
Your Savings on This Property
220 Rocky Mountain, Divide · 2.77% VA vs 6.5% conventional
$986
per month
$11,832
per year
$354,953
over 30 years
$351,444
interest saved
How gap financing works: The equity gap ($176,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($141,170 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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