Loan Comparison: 3.07% vs 6.5%
7856 Luminary, Fountain, CO 80817 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
3.07%
Remaining Balance
$408,894
Equity Gap
$117,833
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$117,833
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.07% + gap loan
$2,444/moAssumed loan: $1,739/mo
Gap financing: $704/mo
$709less per month with the assumable
Your Savings on This Property
7856 Luminary, Fountain · 3.07% VA vs 6.5% conventional
$709
per month
$8,506
per year
$255,188
over 30 years
$256,915
interest saved
How gap financing works: The equity gap ($117,833) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($91,583 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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