Loan Comparison: 2.74% vs 6.5%
821 Descendant, Fountain, CO 80817 · 3bd/3ba · $385,000
List Price
$385,000
Assumable Rate
2.74%
Remaining Balance
$297,307
Equity Gap
$86,997
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$86,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.74% + gap loan
$1,733/moAssumed loan: $1,212/mo
Gap financing: $521/mo
$579less per month with the assumable
Your Savings on This Property
821 Descendant, Fountain · 2.74% VA vs 6.5% conventional
$579
per month
$6,945
per year
$208,338
over 30 years
$207,642
interest saved
How gap financing works: The equity gap ($86,997) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($67,747 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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