Loan Comparison: 3.8% vs 6.5%
123 42nd, Loveland, CO 80538 · 1bd/2ba · $275,000
List Price
$275,000
Assumable Rate
3.8%
Remaining Balance
$161,460
Equity Gap
$113,540
Loan Type
VAAdjust Your Scenario
$13,750
$13,750$113,540
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.8% + gap loan
$1,520/moAssumed loan: $752/mo
Gap financing: $767/mo
$132less per month with the assumable
Your Savings on This Property
123 42nd, Loveland · 3.8% VA vs 6.5% conventional
$132
per month
$1,580
per year
$47,392
over 30 years
$47,392
interest saved
How gap financing works: The equity gap ($113,540) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($99,790 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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