Loan Comparison: 6.17% vs 6.5%
1658 Deer Creek Road, Monument, CO 80132 · 6bd/5ba · $360,000
List Price
$360,000
Assumable Rate
6.17%
Remaining Balance
$323,609
Equity Gap
$36,390
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$36,390
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.17% (VA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 6.17% + gap loan
$2,104/moAssumed loan: $1,976/mo
Gap financing: $129/mo
$57less per month with the assumable
Your Savings on This Property
1658 Deer Creek Road, Monument · 6.17% VA vs 6.5% conventional
$57
per month
$689
per year
$20,656
over 30 years
$20,655
interest saved
How gap financing works: The equity gap ($36,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($18,390 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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