Loan Comparison: 2.88% vs 6.5%
4440 Prairie, Cascade, CO 80809 · 3bd/2ba · $579,999
List Price
$579,999
Assumable Rate
2.88%
Remaining Balance
$484,844
Equity Gap
$95,155
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$95,155
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 2.88% + gap loan
$2,522/moAssumed loan: $2,013/mo
Gap financing: $509/mo
$961less per month with the assumable
Your Savings on This Property
4440 Prairie, Cascade · 2.88% VA vs 6.5% conventional
$961
per month
$11,534
per year
$346,009
over 30 years
$346,009
interest saved
How gap financing works: The equity gap ($95,155) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($66,155 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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