Loan Comparison: 2.83% vs 6.5%
1408 Leahy, Fort Collins, CO 80526 · 4bd/4ba · $699,000
List Price
$699,000
Assumable Rate
2.83%
Remaining Balance
$517,165
Equity Gap
$312,494
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$312,494
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.83% + gap loan
$4,267/moAssumed loan: $2,133/mo
Gap financing: $2,134/mo
Your Savings on This Property
1408 Leahy, Fort Collins · 2.83% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$105,428
interest saved
How gap financing works: The equity gap ($312,494) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($277,544 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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