Loan Comparison: 3.02% vs 6.5%
9431 Summit Mesa, Fountain, CO 80817 · 3bd/3ba · $432,500
List Price
$432,500
Assumable Rate
3.02%
Remaining Balance
$310,369
Equity Gap
$122,842
Loan Type
VAAdjust Your Scenario
$21,625
$21,625$122,842
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,597/moAssumable @ 3.02% + gap loan
$2,090/moAssumed loan: $1,312/mo
Gap financing: $778/mo
$507less per month with the assumable
Your Savings on This Property
9431 Summit Mesa, Fountain · 3.02% VA vs 6.5% conventional
$507
per month
$6,082
per year
$182,470
over 30 years
$183,181
interest saved
How gap financing works: The equity gap ($122,842) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,625, 5% of purchase price) and a second mortgage for the rest ($101,217 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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