Loan Comparison: 3.07% vs 6.5%
2063 Hibbard, Fountain, CO 80817 · 5bd/4ba · $485,000
List Price
$485,000
Assumable Rate
3.07%
Remaining Balance
$363,557
Equity Gap
$121,443
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$121,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.07% + gap loan
$2,294/moAssumed loan: $1,547/mo
Gap financing: $747/mo
$618less per month with the assumable
Your Savings on This Property
2063 Hibbard, Fountain · 3.07% VA vs 6.5% conventional
$618
per month
$7,421
per year
$222,621
over 30 years
$222,621
interest saved
How gap financing works: The equity gap ($121,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($97,193 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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