Loan Comparison: 2.84% vs 6.5%
1360 Pine, Loveland, CO 80537 · 2bd/1ba · $415,000
List Price
$415,000
Assumable Rate
2.84%
Remaining Balance
$301,775
Equity Gap
$113,901
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$113,901
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.84% + gap loan
$1,963/moAssumed loan: $1,246/mo
Gap financing: $716/mo
$529less per month with the assumable
Your Savings on This Property
1360 Pine, Loveland · 2.84% VA vs 6.5% conventional
$529
per month
$6,351
per year
$190,539
over 30 years
$191,215
interest saved
How gap financing works: The equity gap ($113,901) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($93,151 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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