Loan Comparison: 2.77% vs 6.5%
10212 Falcon, Longmont, CO 80504 · 4bd/3ba · $675,000
List Price
$675,000
Assumable Rate
2.77%
Remaining Balance
$445,177
Equity Gap
$229,823
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$229,823
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 2.77% + gap loan
$3,330/moAssumed loan: $1,822/mo
Gap financing: $1,508/mo
$723less per month with the assumable
Your Savings on This Property
10212 Falcon, Longmont · 2.77% VA vs 6.5% conventional
$723
per month
$8,681
per year
$260,420
over 30 years
$260,420
interest saved
How gap financing works: The equity gap ($229,823) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($196,073 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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