Loan Comparison: 3% vs 6.5%
1067 Clogger, Fountain, CO 80817 · 4bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3%
Remaining Balance
$268,587
Equity Gap
$161,413
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$161,413
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3% + gap loan
$2,208/moAssumed loan: $1,132/mo
Gap financing: $1,076/mo
$374less per month with the assumable
Your Savings on This Property
1067 Clogger, Fountain · 3% VA vs 6.5% conventional
$374
per month
$4,486
per year
$134,573
over 30 years
$134,573
interest saved
How gap financing works: The equity gap ($161,413) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($139,913 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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