Loan Comparison: 5.54% vs 6.5%
12783 River Rock, Longmont, CO 80504 · 3bd/3ba · $572,000
List Price
$572,000
Assumable Rate
5.54%
Remaining Balance
$539,108
Equity Gap
$33,653
Loan Type
VAAdjust Your Scenario
$28,600
$28,600$33,653
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,435/moAssumable @ 5.54% + gap loan
$3,113/moAssumed loan: $3,075/mo
Gap financing: $39/mo
$321less per month with the assumable
Your Savings on This Property
12783 River Rock, Longmont · 5.54% VA vs 6.5% conventional
$321
per month
$3,855
per year
$115,655
over 30 years
$116,416
interest saved
How gap financing works: The equity gap ($33,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,600, 5% of purchase price) and a second mortgage for the rest ($5,053 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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