Loan Comparison: 3.16% vs 6.5%
1907 Custer, Loveland, CO 80537 · 3bd/2ba · $440,000
List Price
$440,000
Assumable Rate
3.16%
Remaining Balance
$195,009
Equity Gap
$245,436
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$245,436
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 6.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.16% + gap loan
$2,557/moAssumed loan: $839/mo
Gap financing: $1,718/mo
$85less per month with the assumable
Your Savings on This Property
1907 Custer, Loveland · 3.16% VA vs 6.5% conventional
$85
per month
$1,019
per year
$30,573
over 30 years
$31,018
interest saved
How gap financing works: The equity gap ($245,436) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($223,436 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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