Loan Comparison: 4.02% vs 6.5%
4220 Promontory, Loveland, CO 80537 · 5bd/4ba · $645,000
List Price
$645,000
Assumable Rate
4.02%
Remaining Balance
$314,923
Equity Gap
$327,328
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$327,328
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.02% (VA)
Blended Rate: 6.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 4.02% + gap loan
$3,776/moAssumed loan: $1,507/mo
Gap financing: $2,269/mo
$97less per month with the assumable
Your Savings on This Property
4220 Promontory, Loveland · 4.02% VA vs 6.5% conventional
$97
per month
$1,164
per year
$34,912
over 30 years
$32,163
interest saved
How gap financing works: The equity gap ($327,328) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($295,078 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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