Loan Comparison: 3.45% vs 6.5%
1807 24th, Longmont, CO 80501 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
3.45%
Remaining Balance
$284,652
Equity Gap
$110,348
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$110,348
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.45% + gap loan
$1,967/moAssumed loan: $1,270/mo
Gap financing: $697/mo
$405less per month with the assumable
Your Savings on This Property
1807 24th, Longmont · 3.45% VA vs 6.5% conventional
$405
per month
$4,859
per year
$145,775
over 30 years
$145,775
interest saved
How gap financing works: The equity gap ($110,348) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($90,598 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.