Loan Comparison: 2.9% vs 6.5%
9480 Summit Mesa, Fountain, CO 80817 · 4bd/4ba · $475,000
List Price
$475,000
Assumable Rate
2.9%
Remaining Balance
$402,177
Equity Gap
$73,700
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$73,700
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.9% + gap loan
$2,058/moAssumed loan: $1,674/mo
Gap financing: $384/mo
$794less per month with the assumable
Your Savings on This Property
9480 Summit Mesa, Fountain · 2.9% VA vs 6.5% conventional
$794
per month
$9,530
per year
$285,895
over 30 years
$286,772
interest saved
How gap financing works: The equity gap ($73,700) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($49,950 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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