Loan Comparison: 7.04% vs 6.5%
17255 Crimson Clover Drive, Monument, CO 80132 · 4bd/3ba · $760,000
List Price
$760,000
Assumable Rate
7.04%
Remaining Balance
$528,795
Equity Gap
$231,205
Loan Type
VAAdjust Your Scenario
$38,000
$38,000$231,205
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.04% (VA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,564/moAssumable @ 7.04% + gap loan
$4,883/moAssumed loan: $3,532/mo
Gap financing: $1,351/mo
Your Savings on This Property
17255 Crimson Clover Drive, Monument · 7.04% 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 ($231,205) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,000, 5% of purchase price) and a second mortgage for the rest ($193,205 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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