Loan Comparison: 3.85% vs 6.5%
6402 Foothills View, Fort Collins, CO 80528 · 6bd/6ba · $1,325,000
List Price
$1,325,000
Assumable Rate
3.85%
Remaining Balance
$689,064
Equity Gap
$634,482
Loan Type
VAAdjust Your Scenario
$66,250
$66,250$634,482
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,956/moAssumable @ 3.85% + gap loan
$7,600/moAssumed loan: $3,230/mo
Gap financing: $4,369/mo
$357less per month with the assumable
Your Savings on This Property
6402 Foothills View, Fort Collins · 3.85% VA vs 6.5% conventional
$357
per month
$4,279
per year
$128,360
over 30 years
$126,906
interest saved
How gap financing works: The equity gap ($634,482) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($66,250, 5% of purchase price) and a second mortgage for the rest ($568,232 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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