Loan Comparison: 7.22% vs 6.5%
17240 Park Trail Drive, Monument, CO 80132 · 4bd/4ba · $550,000
List Price
$550,000
Assumable Rate
7.22%
Remaining Balance
$468,310
Equity Gap
$81,690
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$81,690
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.22% (VA)
Blended Rate: 7.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 7.22% + gap loan
$3,564/moAssumed loan: $3,185/mo
Gap financing: $379/mo
Your Savings on This Property
17240 Park Trail Drive, Monument · 7.22% 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 ($81,690) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($54,190 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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