Loan Comparison: 2.77% vs 6.5%
204 Pinyon, Frederick, CO 80530 · 2bd/2ba · $649,900
List Price
$649,900
Assumable Rate
2.77%
Remaining Balance
$388,220
Equity Gap
$261,680
Loan Type
VAAdjust Your Scenario
$32,495
$32,495$261,680
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 2.77% + gap loan
$3,351/moAssumed loan: $1,589/mo
Gap financing: $1,762/mo
$551less per month with the assumable
Your Savings on This Property
204 Pinyon, Frederick · 2.77% VA vs 6.5% conventional
$551
per month
$6,614
per year
$198,430
over 30 years
$198,430
interest saved
How gap financing works: The equity gap ($261,680) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($229,185 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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