Loan Comparison: 2.96% vs 6.5%
483 Clubhouse, Loveland, CO 80537 · 4bd/3ba · $529,900
List Price
$529,900
Assumable Rate
2.96%
Remaining Balance
$459,588
Equity Gap
$70,311
Loan Type
VAAdjust Your Scenario
$26,495
$26,495$70,311
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.96% + gap loan
$2,265/moAssumed loan: $1,928/mo
Gap financing: $337/mo
$917less per month with the assumable
Your Savings on This Property
483 Clubhouse, Loveland · 2.96% VA vs 6.5% conventional
$917
per month
$11,007
per year
$330,197
over 30 years
$330,196
interest saved
How gap financing works: The equity gap ($70,311) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,495, 5% of purchase price) and a second mortgage for the rest ($43,816 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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