Loan Comparison: 2.87% vs 6.5%
335 Missouri, Fountain, CO 80817 · 3bd/3ba · $299,000
List Price
$299,000
Assumable Rate
2.87%
Remaining Balance
$278,628
Equity Gap
$20,997
Loan Type
VAAdjust Your Scenario
$14,950
$14,950$20,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 2.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,795/moAssumable @ 2.87% + gap loan
$1,202/moAssumed loan: $1,155/mo
Gap financing: $46/mo
$594less per month with the assumable
Your Savings on This Property
335 Missouri, Fountain · 2.87% VA vs 6.5% conventional
$594
per month
$7,124
per year
$213,707
over 30 years
$214,332
interest saved
How gap financing works: The equity gap ($20,997) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,950, 5% of purchase price) and a second mortgage for the rest ($6,047 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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