Loan Comparison: 2.99% vs 6.5%
405 Bimson, Berthoud, CO 80513 · 5bd/3ba · $995,000
List Price
$995,000
Assumable Rate
2.99%
Remaining Balance
$638,421
Equity Gap
$481,579
Loan Type
VAAdjust Your Scenario
$49,750
$49,750$481,579
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,975/moAssumable @ 2.99% + gap loan
$6,009/moAssumed loan: $2,688/mo
Gap financing: $3,320/mo
Your Savings on This Property
405 Bimson, Berthoud · 2.99% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$112,783
interest saved
How gap financing works: The equity gap ($481,579) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,750, 5% of purchase price) and a second mortgage for the rest ($431,829 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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