Loan Comparison: 2.8% vs 6.5%
304 Tigercat, Fort Collins, CO 80524 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
2.8%
Remaining Balance
$411,460
Equity Gap
$147,616
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$147,616
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.8% + gap loan
$2,633/moAssumed loan: $1,691/mo
Gap financing: $943/mo
$369less per month with the assumable
Your Savings on This Property
304 Tigercat, Fort Collins · 2.8% VA vs 6.5% conventional
$369
per month
$4,426
per year
$132,785
over 30 years
$191,861
interest saved
How gap financing works: The equity gap ($147,616) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($122,616 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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