Loan Comparison: 2.96% vs 6.5%
914 Daffodil, Fountain, CO 80817 · 4bd/3ba · $425,000
List Price
$425,000
Assumable Rate
2.96%
Remaining Balance
$316,771
Equity Gap
$108,971
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$108,971
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.96% + gap loan
$2,003/moAssumed loan: $1,329/mo
Gap financing: $674/mo
$549less per month with the assumable
Your Savings on This Property
914 Daffodil, Fountain · 2.96% VA vs 6.5% conventional
$549
per month
$6,585
per year
$197,561
over 30 years
$198,303
interest saved
How gap financing works: The equity gap ($108,971) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($87,721 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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