Loan Comparison: 2.79% vs 6.5%
1008 Sugar Beet, Longmont, CO 80501 · 5bd/4ba · $799,950
List Price
$799,950
Assumable Rate
2.79%
Remaining Balance
$592,230
Equity Gap
$207,720
Loan Type
VAAdjust Your Scenario
$39,998
$39,998$207,720
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,803/moAssumable @ 2.79% + gap loan
$3,720/moAssumed loan: $2,430/mo
Gap financing: $1,290/mo
$1,083less per month with the assumable
Your Savings on This Property
1008 Sugar Beet, Longmont · 2.79% VA vs 6.5% conventional
$1,083
per month
$13,002
per year
$390,055
over 30 years
$390,055
interest saved
How gap financing works: The equity gap ($207,720) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,998, 5% of purchase price) and a second mortgage for the rest ($167,722 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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