Loan Comparison: 3.21% vs 6.5%
10629 Traders, Fountain, CO 80817 · 4bd/4ba · $465,000
List Price
$465,000
Assumable Rate
3.21%
Remaining Balance
$297,593
Equity Gap
$167,407
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$167,407
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.21% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.21% + gap loan
$2,397/moAssumed loan: $1,289/mo
Gap financing: $1,108/mo
$395less per month with the assumable
Your Savings on This Property
10629 Traders, Fountain · 3.21% VA vs 6.5% conventional
$395
per month
$4,741
per year
$142,235
over 30 years
$142,235
interest saved
How gap financing works: The equity gap ($167,407) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($144,157 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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