Loan Comparison: 3.67% vs 6.5%
314 Sloan, Johnstown, CO 80534 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
3.67%
Remaining Balance
$215,058
Equity Gap
$309,294
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$309,294
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (VA)
Blended Rate: 6.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.67% + gap loan
$3,163/moAssumed loan: $986/mo
Gap financing: $2,176/mo
Your Savings on This Property
314 Sloan, Johnstown · 3.67% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($309,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($283,044 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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