Loan Comparison: 3.16% vs 6.5%
4545 Tarragon, Johnstown, CO 80534 · 4bd/3ba · $660,000
List Price
$660,000
Assumable Rate
3.16%
Remaining Balance
$352,989
Equity Gap
$308,599
Loan Type
VAAdjust Your Scenario
$33,000
$33,000$308,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 3.16% + gap loan
$3,638/moAssumed loan: $1,519/mo
Gap financing: $2,119/mo
$325less per month with the assumable
Your Savings on This Property
4545 Tarragon, Johnstown · 3.16% VA vs 6.5% conventional
$325
per month
$3,901
per year
$117,036
over 30 years
$118,624
interest saved
How gap financing works: The equity gap ($308,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($275,599 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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