Loan Comparison: 2.96% vs 6.5%
7683 Ramaglia, Fountain, CO 80817 · 4bd/4ba · $445,000
List Price
$445,000
Assumable Rate
2.96%
Remaining Balance
$380,552
Equity Gap
$64,448
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$64,448
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.96% + gap loan
$1,921/moAssumed loan: $1,596/mo
Gap financing: $324/mo
$751less per month with the assumable
Your Savings on This Property
7683 Ramaglia, Fountain · 2.96% VA vs 6.5% conventional
$751
per month
$9,017
per year
$270,496
over 30 years
$270,496
interest saved
How gap financing works: The equity gap ($64,448) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($42,198 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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