Loan Comparison: 3.96% vs 6.5%
1466 Bonita, Fountain, CO 80817 · 4bd/2ba · $347,000
List Price
$347,000
Assumable Rate
3.96%
Remaining Balance
$128,726
Equity Gap
$218,274
Loan Type
VAAdjust Your Scenario
$17,350
$17,350$218,274
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (VA)
Blended Rate: 6.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,084/moAssumable @ 3.96% + gap loan
$2,157/moAssumed loan: $612/mo
Gap financing: $1,545/mo
Your Savings on This Property
1466 Bonita, Fountain · 3.96% 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 ($218,274) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,350, 5% of purchase price) and a second mortgage for the rest ($200,924 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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