Loan Comparison: 2.7% vs 6.5%
2054 Falcon, Longmont, CO 80503 · 3bd/3ba · $655,000
List Price
$655,000
Assumable Rate
2.7%
Remaining Balance
$49,900
Equity Gap
$611,504
Loan Type
VAAdjust Your Scenario
$32,750
$32,750$611,504
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 8.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,933/moAssumable @ 2.7% + gap loan
$4,653/moAssumed loan: $202/mo
Gap financing: $4,450/mo
Your Savings on This Property
2054 Falcon, Longmont · 2.7% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($611,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,750, 5% of purchase price) and a second mortgage for the rest ($578,754 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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