Loan Comparison: 3.1% vs 6.5%
7822 Wythe, Fountain, CO 80817 · 5bd/4ba · $510,000
List Price
$510,000
Assumable Rate
3.1%
Remaining Balance
$462,560
Equity Gap
$47,440
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$47,440
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.1% + gap loan
$2,144/moAssumed loan: $1,975/mo
Gap financing: $169/mo
$918less per month with the assumable
Your Savings on This Property
7822 Wythe, Fountain · 3.1% VA vs 6.5% conventional
$918
per month
$11,022
per year
$330,647
over 30 years
$330,647
interest saved
How gap financing works: The equity gap ($47,440) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($21,940 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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