Loan Comparison: 2.98% vs 6.5%
209 Cheops, Fort Collins, CO 80525 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.98%
Remaining Balance
$305,049
Equity Gap
$220,624
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$220,624
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.98% + gap loan
$2,777/moAssumed loan: $1,283/mo
Gap financing: $1,495/mo
$375less per month with the assumable
Your Savings on This Property
209 Cheops, Fort Collins · 2.98% VA vs 6.5% conventional
$375
per month
$4,501
per year
$135,022
over 30 years
$135,695
interest saved
How gap financing works: The equity gap ($220,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($194,374 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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