Loan Comparison: 2.98% vs 6.5%
6960 Fountain Ridge, Fountain, CO 80817 · 3bd/3ba · $380,000
List Price
$380,000
Assumable Rate
2.98%
Remaining Balance
$320,349
Equity Gap
$59,651
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$59,651
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 2.98% + gap loan
$1,660/moAssumed loan: $1,347/mo
Gap financing: $313/mo
$622less per month with the assumable
Your Savings on This Property
6960 Fountain Ridge, Fountain · 2.98% VA vs 6.5% conventional
$622
per month
$7,465
per year
$223,936
over 30 years
$223,936
interest saved
How gap financing works: The equity gap ($59,651) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($40,651 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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