Loan Comparison: 2.7% vs 6.5%
601 Rye Ridge, Fountain, CO 80817 · 4bd/3ba · $415,000
List Price
$415,000
Assumable Rate
2.7%
Remaining Balance
$374,192
Equity Gap
$87,271
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$87,271
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.7% + gap loan
$2,029/moAssumed loan: $1,518/mo
Gap financing: $511/mo
$463less per month with the assumable
Your Savings on This Property
601 Rye Ridge, Fountain · 2.7% VA vs 6.5% conventional
$463
per month
$5,553
per year
$166,581
over 30 years
$213,044
interest saved
How gap financing works: The equity gap ($87,271) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($66,521 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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