Loan Comparison: 2.77% vs 6.5%
10212 Falcon, Longmont, CO 80504 · 4bd/3ba · $700,000
List Price
$700,000
Assumable Rate
2.77%
Remaining Balance
$445,177
Equity Gap
$254,823
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$254,823
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.77% + gap loan
$3,512/moAssumed loan: $1,822/mo
Gap financing: $1,690/mo
$691less per month with the assumable
Your Savings on This Property
10212 Falcon, Longmont · 2.77% VA vs 6.5% conventional
$691
per month
$8,291
per year
$248,720
over 30 years
$248,720
interest saved
How gap financing works: The equity gap ($254,823) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($219,823 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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