Loan Comparison: 2.94% vs 6.5%
3320 Empire, Frederick, CO 80516 · 5bd/4ba · $670,000
List Price
$670,000
Assumable Rate
2.94%
Remaining Balance
$446,936
Equity Gap
$295,149
Loan Type
VAAdjust Your Scenario
$33,500
$33,500$295,149
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 2.94% + gap loan
$3,882/moAssumed loan: $1,870/mo
Gap financing: $2,012/mo
$141less per month with the assumable
Your Savings on This Property
3320 Empire, Frederick · 2.94% VA vs 6.5% conventional
$141
per month
$1,697
per year
$50,900
over 30 years
$122,985
interest saved
How gap financing works: The equity gap ($295,149) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($261,649 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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