Loan Comparison: 2.99% vs 6.5%
102 Bald Eagle, Divide, CO 80814 · 4bd/4ba · $1,075,000
List Price
$1,075,000
Assumable Rate
2.99%
Remaining Balance
$596,221
Equity Gap
$477,450
Loan Type
VAAdjust Your Scenario
$53,750
$53,750$477,450
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 2.99% + gap loan
$5,768/moAssumed loan: $2,510/mo
Gap financing: $3,258/mo
$687less per month with the assumable
Your Savings on This Property
102 Bald Eagle, Divide · 2.99% VA vs 6.5% conventional
$687
per month
$8,240
per year
$247,187
over 30 years
$245,858
interest saved
How gap financing works: The equity gap ($477,450) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($423,700 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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