Loan Comparison: 3.07% vs 6.5%
7472 Skyline, Frederick, CO 80504 · 3bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.07%
Remaining Balance
$398,835
Equity Gap
$120,314
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$120,314
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.07% + gap loan
$2,422/moAssumed loan: $1,697/mo
Gap financing: $725/mo
$701less per month with the assumable
Your Savings on This Property
7472 Skyline, Frederick · 3.07% VA vs 6.5% conventional
$701
per month
$8,407
per year
$252,225
over 30 years
$251,374
interest saved
How gap financing works: The equity gap ($120,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($94,314 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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