Loan Comparison: 2.88% vs 6.5%
16125 Gold Creek Drive, Monument, CO 80132 · 5bd/4ba · $809,900
List Price
$809,900
Assumable Rate
2.88%
Remaining Balance
$311,957
Equity Gap
$497,942
Loan Type
VAAdjust Your Scenario
$40,495
$40,495$497,942
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,863/moAssumable @ 2.88% + gap loan
$4,494/moAssumed loan: $1,295/mo
Gap financing: $3,199/mo
$370less per month with the assumable
Your Savings on This Property
16125 Gold Creek Drive, Monument · 2.88% VA vs 6.5% conventional
$370
per month
$4,434
per year
$133,023
over 30 years
$133,022
interest saved
How gap financing works: The equity gap ($497,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,495, 5% of purchase price) and a second mortgage for the rest ($457,447 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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