Loan Comparison: 2.87% vs 6.5%
585 Blossom Field, Fountain, CO 80817 · 3bd/1ba · $350,000
List Price
$350,000
Assumable Rate
2.87%
Remaining Balance
$310,599
Equity Gap
$39,401
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$39,401
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 2.87% + gap loan
$1,456/moAssumed loan: $1,288/mo
Gap financing: $168/mo
$645less per month with the assumable
Your Savings on This Property
585 Blossom Field, Fountain · 2.87% VA vs 6.5% conventional
$645
per month
$7,745
per year
$232,346
over 30 years
$232,346
interest saved
How gap financing works: The equity gap ($39,401) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($21,901 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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