Loan Comparison: 3.08% vs 6.5%
7225 Millbrook, Fountain, CO 80817 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.08%
Remaining Balance
$356,794
Equity Gap
$43,106
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$43,106
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.08% + gap loan
$1,697/moAssumed loan: $1,520/mo
Gap financing: $178/mo
$704less per month with the assumable
Your Savings on This Property
7225 Millbrook, Fountain · 3.08% VA vs 6.5% conventional
$704
per month
$8,446
per year
$253,389
over 30 years
$253,389
interest saved
How gap financing works: The equity gap ($43,106) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($23,111 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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