Loan Comparison: 3.89% vs 6.5%
934 Square Dance, Fountain, CO 80817 · 4bd/3ba · $410,000
List Price
$410,000
Assumable Rate
3.89%
Remaining Balance
$323,717
Equity Gap
$116,584
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$116,584
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (VA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.89% + gap loan
$2,264/moAssumed loan: $1,525/mo
Gap financing: $739/mo
$198less per month with the assumable
Your Savings on This Property
934 Square Dance, Fountain · 3.89% VA vs 6.5% conventional
$198
per month
$2,377
per year
$71,311
over 30 years
$101,612
interest saved
How gap financing works: The equity gap ($116,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($96,084 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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