Loan Comparison: 2.9% vs 6.5%
7502 Araia, Fountain, CO 80817 · 5bd/3ba · $465,000
List Price
$465,000
Assumable Rate
2.9%
Remaining Balance
$372,727
Equity Gap
$91,451
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$91,451
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 2.9% + gap loan
$2,076/moAssumed loan: $1,551/mo
Gap financing: $524/mo
$716less per month with the assumable
Your Savings on This Property
7502 Araia, Fountain · 2.9% VA vs 6.5% conventional
$716
per month
$8,596
per year
$257,887
over 30 years
$257,065
interest saved
How gap financing works: The equity gap ($91,451) 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 ($68,201 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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