Loan Comparison: 3.1% vs 6.5%
7794 Landover, Fountain, CO 80817 · 5bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.1%
Remaining Balance
$367,031
Equity Gap
$107,969
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$107,969
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.1% + gap loan
$2,215/moAssumed loan: $1,567/mo
Gap financing: $648/mo
$637less per month with the assumable
Your Savings on This Property
7794 Landover, Fountain · 3.1% VA vs 6.5% conventional
$637
per month
$7,648
per year
$229,447
over 30 years
$229,447
interest saved
How gap financing works: The equity gap ($107,969) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($84,219 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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