Loan Comparison: 3.02% vs 6.5%
9431 Summit Mesa, Fountain, CO 80817 · 3bd/3ba · $413,000
List Price
$413,000
Assumable Rate
3.02%
Remaining Balance
$307,515
Equity Gap
$105,484
Loan Type
VAAdjust Your Scenario
$20,650
$20,650$105,484
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,480/moAssumable @ 3.02% + gap loan
$1,952/moAssumed loan: $1,300/mo
Gap financing: $652/mo
$528less per month with the assumable
Your Savings on This Property
9431 Summit Mesa, Fountain · 3.02% VA vs 6.5% conventional
$528
per month
$6,334
per year
$190,009
over 30 years
$190,008
interest saved
How gap financing works: The equity gap ($105,484) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,650, 5% of purchase price) and a second mortgage for the rest ($84,834 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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