Loan Comparison: 2.83% vs 6.5%
829 Smith, Fort Collins, CO 80524 · 2bd/3ba · $775,000
List Price
$775,000
Assumable Rate
2.83%
Remaining Balance
$404,668
Equity Gap
$453,256
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$453,256
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.83% + gap loan
$4,856/moAssumed loan: $1,669/mo
Gap financing: $3,187/mo
Your Savings on This Property
829 Smith, Fort Collins · 2.83% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$9,912
interest saved
How gap financing works: The equity gap ($453,256) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($414,506 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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