Loan Comparison: 3.16% vs 6.5%
4545 Tarragon, Johnstown, CO 80534 · 4bd/3ba · $655,000
List Price
$655,000
Assumable Rate
3.16%
Remaining Balance
$351,401
Equity Gap
$303,599
Loan Type
VAAdjust Your Scenario
$32,750
$32,750$303,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,933/moAssumable @ 3.16% + gap loan
$3,595/moAssumed loan: $1,512/mo
Gap financing: $2,083/mo
$338less per month with the assumable
Your Savings on This Property
4545 Tarragon, Johnstown · 3.16% VA vs 6.5% conventional
$338
per month
$4,061
per year
$121,836
over 30 years
$121,836
interest saved
How gap financing works: The equity gap ($303,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,750, 5% of purchase price) and a second mortgage for the rest ($270,849 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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