Loan Comparison: 3.4% vs 6.5%
917 Burning Bush Point, Monument, CO 80132 · 5bd/5ba · $354,900
List Price
$354,900
Assumable Rate
3.4%
Remaining Balance
$114,956
Equity Gap
$239,943
Loan Type
VAAdjust Your Scenario
$17,745
$17,745$239,943
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.4% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 3.4% + gap loan
$2,063/moAssumed loan: $510/mo
Gap financing: $1,554/mo
$68less per month with the assumable
Your Savings on This Property
917 Burning Bush Point, Monument · 3.4% VA vs 6.5% conventional
$68
per month
$811
per year
$24,336
over 30 years
$24,335
interest saved
How gap financing works: The equity gap ($239,943) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($222,198 at 7.5%). 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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