Loan Comparison: 2.96% vs 6.5%
7776 Candlelight, Fountain, CO 80817 · 3bd/3ba · $480,000
List Price
$480,000
Assumable Rate
2.96%
Remaining Balance
$415,109
Equity Gap
$64,890
Loan Type
VAAdjust Your Scenario
$24,000
$24,000$64,890
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.96% + gap loan
$2,056/moAssumed loan: $1,741/mo
Gap financing: $314/mo
$827less per month with the assumable
Your Savings on This Property
7776 Candlelight, Fountain · 2.96% VA vs 6.5% conventional
$827
per month
$9,920
per year
$297,593
over 30 years
$297,592
interest saved
How gap financing works: The equity gap ($64,890) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($40,890 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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