Loan Comparison: 3.99% vs 6.5%
9310 Cormorant, Fountain, CO 80817 · 3bd/3ba · $365,000
List Price
$365,000
Assumable Rate
3.99%
Remaining Balance
$93,512
Equity Gap
$271,488
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$271,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.99% (VA)
Blended Rate: 7.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.99% + gap loan
$2,393/moAssumed loan: $446/mo
Gap financing: $1,947/mo
Your Savings on This Property
9310 Cormorant, Fountain · 3.99% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($271,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($253,238 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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