Loan Comparison: 2.88% vs 6.5%
39445 Main, Eaton, CO 80615 · 5bd/3ba · $640,000
List Price
$640,000
Assumable Rate
2.88%
Remaining Balance
$531,421
Equity Gap
$107,387
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$107,387
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 2.88% + gap loan
$2,786/moAssumed loan: $2,206/mo
Gap financing: $580/mo
$1,057less per month with the assumable
Your Savings on This Property
39445 Main, Eaton · 2.88% VA vs 6.5% conventional
$1,057
per month
$12,685
per year
$380,544
over 30 years
$379,352
interest saved
How gap financing works: The equity gap ($107,387) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($75,387 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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