Loan Comparison: 2.9% vs 6.5%
17556 Colonial Park Drive, Monument, CO 80132 · 5bd/4ba · $1,250,000
List Price
$1,250,000
Assumable Rate
2.9%
Remaining Balance
$519,359
Equity Gap
$730,641
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$730,641
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 2.9% + gap loan
$6,833/moAssumed loan: $2,162/mo
Gap financing: $4,672/mo
$672less per month with the assumable
Your Savings on This Property
17556 Colonial Park Drive, Monument · 2.9% VA vs 6.5% conventional
$672
per month
$8,068
per year
$242,043
over 30 years
$242,043
interest saved
How gap financing works: The equity gap ($730,641) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($668,141 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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