Loan Comparison: 2.84% vs 6.5%
1905 23rd, Loveland, CO 80538 · 4bd/2ba · $489,900
List Price
$489,900
Assumable Rate
2.84%
Remaining Balance
$283,041
Equity Gap
$206,230
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$206,230
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.84% + gap loan
$2,566/moAssumed loan: $1,169/mo
Gap financing: $1,397/mo
$375less per month with the assumable
Your Savings on This Property
1905 23rd, Loveland · 2.84% VA vs 6.5% conventional
$375
per month
$4,503
per year
$135,095
over 30 years
$134,466
interest saved
How gap financing works: The equity gap ($206,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($181,735 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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