Loan Comparison: 6% vs 6.5%
1335 Legend Oak, Fountain, CO 80817 · 4bd/3ba · $399,900
List Price
$399,900
Assumable Rate
6%
Remaining Balance
$88,191
Equity Gap
$311,709
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$311,709
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (VA)
Blended Rate: 7.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 6% + gap loan
$2,772/moAssumed loan: $529/mo
Gap financing: $2,243/mo
Your Savings on This Property
1335 Legend Oak, Fountain · 6% 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 ($311,709) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($291,714 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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