Loan Comparison: 3% vs 6.5%
7335 Willowdale, Fountain, CO 80817 · 3bd/3ba · $419,900
List Price
$419,900
Assumable Rate
3%
Remaining Balance
$234,800
Equity Gap
$216,361
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$216,361
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 3% + gap loan
$2,492/moAssumed loan: $990/mo
Gap financing: $1,502/mo
$29less per month with the assumable
Your Savings on This Property
7335 Willowdale, Fountain · 3% VA vs 6.5% conventional
$29
per month
$351
per year
$10,522
over 30 years
$41,783
interest saved
How gap financing works: The equity gap ($216,361) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($195,366 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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