Loan Comparison: 2.84% vs 6.5%
2032 FAIRWEATHER, Fountain, CO 80817 · 4bd/3ba · $425,000
List Price
$425,000
Assumable Rate
2.84%
Remaining Balance
$294,724
Equity Gap
$129,620
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$129,620
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.84% + gap loan
$2,051/moAssumed loan: $1,217/mo
Gap financing: $833/mo
$501less per month with the assumable
Your Savings on This Property
2032 FAIRWEATHER, Fountain · 2.84% VA vs 6.5% conventional
$501
per month
$6,017
per year
$180,512
over 30 years
$179,856
interest saved
How gap financing works: The equity gap ($129,620) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($108,370 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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