Loan Comparison: 2.8% vs 6.5%
2973 Night Sky, Berthoud, CO 80513 · 5bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.8%
Remaining Balance
$405,090
Equity Gap
$119,910
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$119,910
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.8% + gap loan
$2,385/moAssumed loan: $1,664/mo
Gap financing: $720/mo
$768less per month with the assumable
Your Savings on This Property
2973 Night Sky, Berthoud · 2.8% VA vs 6.5% conventional
$768
per month
$9,213
per year
$276,402
over 30 years
$276,402
interest saved
How gap financing works: The equity gap ($119,910) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($93,660 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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