Loan Comparison: 3.7% vs 6.5%
7775 Barn Owl, Fountain, CO 80817 · 3bd/2ba · $359,900
List Price
$359,900
Assumable Rate
3.7%
Remaining Balance
$246,036
Equity Gap
$113,320
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$113,320
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.7% + gap loan
$1,865/moAssumed loan: $1,132/mo
Gap financing: $733/mo
$296less per month with the assumable
Your Savings on This Property
7775 Barn Owl, Fountain · 3.7% VA vs 6.5% conventional
$296
per month
$3,548
per year
$106,432
over 30 years
$105,888
interest saved
How gap financing works: The equity gap ($113,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($95,325 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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