Loan Comparison: 2.98% vs 6.5%
990 Ridgebury, Fountain, CO 80817 · 4bd/3ba · $445,500
List Price
$445,500
Assumable Rate
2.98%
Remaining Balance
$335,628
Equity Gap
$109,872
Loan Type
VAAdjust Your Scenario
$22,275
$22,275$109,872
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,675/moAssumable @ 2.98% + gap loan
$2,085/moAssumed loan: $1,411/mo
Gap financing: $674/mo
$590less per month with the assumable
Your Savings on This Property
990 Ridgebury, Fountain · 2.98% VA vs 6.5% conventional
$590
per month
$7,081
per year
$212,444
over 30 years
$212,444
interest saved
How gap financing works: The equity gap ($109,872) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,275, 5% of purchase price) and a second mortgage for the rest ($87,597 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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