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
$422,810
Equity Gap
$106,412
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$106,412
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.1% + gap loan
$2,441/moAssumed loan: $1,805/mo
Gap financing: $636/mo
$411less per month with the assumable
Your Savings on This Property
7794 Landover, Fountain · 3.1% VA vs 6.5% conventional
$411
per month
$4,934
per year
$148,010
over 30 years
$202,232
interest saved
How gap financing works: The equity gap ($106,412) 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 ($82,662 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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