Loan Comparison: 3.02% vs 6.5%
1429 Prado, Fountain, CO 80817 · 3bd/2ba · $359,900
List Price
$359,900
Assumable Rate
3.02%
Remaining Balance
$271,862
Equity Gap
$88,038
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$88,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.02% + gap loan
$1,688/moAssumed loan: $1,149/mo
Gap financing: $539/mo
$473less per month with the assumable
Your Savings on This Property
1429 Prado, Fountain · 3.02% VA vs 6.5% conventional
$473
per month
$5,681
per year
$170,419
over 30 years
$170,419
interest saved
How gap financing works: The equity gap ($88,038) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($70,043 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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