Loan Comparison: 2.87% vs 6.5%
7325 Fraser, Frederick, CO 80530 · 5bd/4ba · $579,000
List Price
$579,000
Assumable Rate
2.87%
Remaining Balance
$10,855
Equity Gap
$182,545
Loan Type
VAAdjust Your Scenario
$28,950
$28,950$182,545
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 8.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 2.87% + gap loan
$1,226/moAssumed loan: $45/mo
Gap financing: $1,181/mo
$2,251less per month with the assumable
Your Savings on This Property
7325 Fraser, Frederick · 2.87% VA vs 6.5% conventional
$2,251
per month
$27,008
per year
$810,241
over 30 years
$424,641
interest saved
How gap financing works: The equity gap ($182,545) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($153,595 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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