Loan Comparison: 2.94% vs 6.5%
3847 Cardiff, Loveland, CO 80538 · 3bd/3ba · $545,000
List Price
$545,000
Assumable Rate
2.94%
Remaining Balance
$249,130
Equity Gap
$295,289
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$295,289
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 2.94% + gap loan
$3,103/moAssumed loan: $1,042/mo
Gap financing: $2,061/mo
$169less per month with the assumable
Your Savings on This Property
3847 Cardiff, Loveland · 2.94% VA vs 6.5% conventional
$169
per month
$2,031
per year
$60,929
over 30 years
$60,348
interest saved
How gap financing works: The equity gap ($295,289) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($268,039 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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