Loan Comparison: 2.87% vs 6.5%
7220 Frying Pan, Frederick, CO 80530 · 4bd/2ba · $530,000
List Price
$530,000
Assumable Rate
2.87%
Remaining Balance
$395,574
Equity Gap
$134,425
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$134,425
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.87% + gap loan
$2,470/moAssumed loan: $1,640/mo
Gap financing: $830/mo
$712less per month with the assumable
Your Savings on This Property
7220 Frying Pan, Frederick · 2.87% VA vs 6.5% conventional
$712
per month
$8,550
per year
$256,487
over 30 years
$256,486
interest saved
How gap financing works: The equity gap ($134,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($107,925 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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