Loan Comparison: 3.07% vs 6.5%
602 Great Plains, Berthoud, CO 80513 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
3.07%
Remaining Balance
$374,038
Equity Gap
$127,541
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$127,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.07% + gap loan
$2,380/moAssumed loan: $1,591/mo
Gap financing: $788/mo
$623less per month with the assumable
Your Savings on This Property
602 Great Plains, Berthoud · 3.07% VA vs 6.5% conventional
$623
per month
$7,473
per year
$224,192
over 30 years
$225,771
interest saved
How gap financing works: The equity gap ($127,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($102,541 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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