Loan Comparison: 3.07% vs 6.5%
602 Great Plains, Berthoud, CO 80513 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
3.07%
Remaining Balance
$371,666
Equity Gap
$117,541
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$117,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.07% + gap loan
$2,296/moAssumed loan: $1,581/mo
Gap financing: $715/mo
$646less per month with the assumable
Your Savings on This Property
602 Great Plains, Berthoud · 3.07% VA vs 6.5% conventional
$646
per month
$7,750
per year
$232,505
over 30 years
$231,712
interest saved
How gap financing works: The equity gap ($117,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($93,041 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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