Loan Comparison: 3.45% vs 6.5%
2241 Ponderosa, Erie, CO 80516 · 3bd/3ba · $675,000
List Price
$675,000
Assumable Rate
3.45%
Remaining Balance
$452,380
Equity Gap
$286,098
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$286,098
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.45% + gap loan
$3,959/moAssumed loan: $2,019/mo
Gap financing: $1,940/mo
$94less per month with the assumable
Your Savings on This Property
2241 Ponderosa, Erie · 3.45% VA vs 6.5% conventional
$94
per month
$1,128
per year
$33,845
over 30 years
$97,323
interest saved
How gap financing works: The equity gap ($286,098) 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 ($252,348 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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