Loan Comparison: 2.87% vs 6.5%
7104 Bracken, Fountain, CO 80817 · 3bd/3ba · $319,900
List Price
$319,900
Assumable Rate
2.87%
Remaining Balance
$287,761
Equity Gap
$31,493
Loan Type
VAAdjust Your Scenario
$15,995
$15,995$31,493
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 2.87% + gap loan
$1,312/moAssumed loan: $1,193/mo
Gap financing: $119/mo
$609less per month with the assumable
Your Savings on This Property
7104 Bracken, Fountain · 2.87% VA vs 6.5% conventional
$609
per month
$7,303
per year
$219,093
over 30 years
$218,447
interest saved
How gap financing works: The equity gap ($31,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,995, 5% of purchase price) and a second mortgage for the rest ($15,498 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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