Loan Comparison: 3.18% vs 6.5%
10864 Traders, Fountain, CO 80817 · 3bd/2ba · $369,900
List Price
$369,900
Assumable Rate
3.18%
Remaining Balance
$253,668
Equity Gap
$116,232
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$116,232
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 3.18% + gap loan
$1,846/moAssumed loan: $1,094/mo
Gap financing: $752/mo
$375less per month with the assumable
Your Savings on This Property
10864 Traders, Fountain · 3.18% VA vs 6.5% conventional
$375
per month
$4,504
per year
$135,125
over 30 years
$135,125
interest saved
How gap financing works: The equity gap ($116,232) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($97,737 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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