Loan Comparison: 2.96% vs 6.5%
8347 Newbury, Fountain, CO 80817 · 3bd/3ba · $389,000
List Price
$389,000
Assumable Rate
2.96%
Remaining Balance
$199,601
Equity Gap
$55,614
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$55,614
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 2.96% + gap loan
$1,115/moAssumed loan: $837/mo
Gap financing: $278/mo
$1,221less per month with the assumable
Your Savings on This Property
8347 Newbury, Fountain · 2.96% VA vs 6.5% conventional
$1,221
per month
$14,646
per year
$439,384
over 30 years
$305,599
interest saved
How gap financing works: The equity gap ($55,614) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($36,164 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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