Loan Comparison: 3.07% vs 6.5%
1805 Elk Springs, Loveland, CO 80538 · 3bd/3ba · $399,800
List Price
$399,800
Assumable Rate
3.07%
Remaining Balance
$369,577
Equity Gap
$30,223
Loan Type
VAAdjust Your Scenario
$19,990
$19,990$30,223
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.07% + gap loan
$1,651/moAssumed loan: $1,572/mo
Gap financing: $79/mo
$750less per month with the assumable
Your Savings on This Property
1805 Elk Springs, Loveland · 3.07% VA vs 6.5% conventional
$750
per month
$8,998
per year
$269,941
over 30 years
$269,941
interest saved
How gap financing works: The equity gap ($30,223) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,990, 5% of purchase price) and a second mortgage for the rest ($10,233 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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