Loan Comparison: 2.7% vs 6.5%
2186 Lombardy, Longmont, CO 80503 · 4bd/3ba · $963,000
List Price
$963,000
Assumable Rate
2.7%
Remaining Balance
$547,000
Equity Gap
$483,920
Loan Type
VAAdjust Your Scenario
$48,150
$48,150$483,920
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,782/moAssumable @ 2.7% + gap loan
$5,569/moAssumed loan: $2,219/mo
Gap financing: $3,351/mo
$213less per month with the assumable
Your Savings on This Property
2186 Lombardy, Longmont · 2.7% VA vs 6.5% conventional
$213
per month
$2,558
per year
$76,738
over 30 years
$144,658
interest saved
How gap financing works: The equity gap ($483,920) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,150, 5% of purchase price) and a second mortgage for the rest ($435,770 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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