Loan Comparison: 3.16% vs 6.5%
7815 Campground, Fountain, CO 80817 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.16%
Remaining Balance
$258,369
Equity Gap
$206,044
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$206,044
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.16% + gap loan
$2,517/moAssumed loan: $1,112/mo
Gap financing: $1,406/mo
$275less per month with the assumable
Your Savings on This Property
7815 Campground, Fountain · 3.16% VA vs 6.5% conventional
$275
per month
$3,299
per year
$98,970
over 30 years
$98,383
interest saved
How gap financing works: The equity gap ($206,044) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($182,794 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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