Loan Comparison: 2.96% vs 6.5%
7950 Whistlestop, Fountain, CO 80817 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.96%
Remaining Balance
$344,332
Equity Gap
$117,186
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$117,186
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.96% + gap loan
$2,169/moAssumed loan: $1,444/mo
Gap financing: $724/mo
$594less per month with the assumable
Your Savings on This Property
7950 Whistlestop, Fountain · 2.96% VA vs 6.5% conventional
$594
per month
$7,124
per year
$213,706
over 30 years
$215,224
interest saved
How gap financing works: The equity gap ($117,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($94,186 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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