Loan Comparison: 5% vs 6.5%
2055 Hibbard, Fountain, CO 80817 · 4bd/4ba · $490,000
List Price
$490,000
Assumable Rate
5%
Remaining Balance
$453,309
Equity Gap
$37,719
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$37,719
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (VA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 5% + gap loan
$2,535/moAssumed loan: $2,433/mo
Gap financing: $102/mo
$407less per month with the assumable
Your Savings on This Property
2055 Hibbard, Fountain · 5% VA vs 6.5% conventional
$407
per month
$4,886
per year
$146,582
over 30 years
$147,610
interest saved
How gap financing works: The equity gap ($37,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($13,219 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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