Loan Comparison: 5.7% vs 6.5%
4840 Limestone Road, Monument, CO 80132 · 3bd/3ba · $1,199,000
List Price
$1,199,000
Assumable Rate
5.7%
Remaining Balance
$1,111,844
Equity Gap
$87,155
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$87,155
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 5.7% + gap loan
$6,643/moAssumed loan: $6,453/mo
Gap financing: $190/mo
$556less per month with the assumable
Your Savings on This Property
4840 Limestone Road, Monument · 5.7% VA vs 6.5% conventional
$556
per month
$6,674
per year
$200,233
over 30 years
$200,232
interest saved
How gap financing works: The equity gap ($87,155) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($27,205 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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