Loan Comparison: 2.83% vs 6.5%
803 Ridge Runner, Fort Collins, CO 80524 · 4bd/4ba · $625,000
List Price
$625,000
Assumable Rate
2.83%
Remaining Balance
$505,691
Equity Gap
$240,377
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$240,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.83% + gap loan
$3,694/moAssumed loan: $2,086/mo
Gap financing: $1,608/mo
$59less per month with the assumable
Your Savings on This Property
803 Ridge Runner, Fort Collins · 2.83% VA vs 6.5% conventional
$59
per month
$708
per year
$21,229
over 30 years
$142,297
interest saved
How gap financing works: The equity gap ($240,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($209,127 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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