Loan Comparison: 3.45% vs 6.5%
8864 Monterey, Fountain, CO 80817 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.45%
Remaining Balance
$382,062
Equity Gap
$82,171
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$82,171
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.45% + gap loan
$2,158/moAssumed loan: $1,705/mo
Gap financing: $453/mo
$634less per month with the assumable
Your Savings on This Property
8864 Monterey, Fountain · 3.45% VA vs 6.5% conventional
$634
per month
$7,610
per year
$228,285
over 30 years
$227,518
interest saved
How gap financing works: The equity gap ($82,171) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($58,921 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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