Loan Comparison: 2.88% vs 6.5%
16353 Blue Yonder View, Monument, CO 80132 · 5bd/4ba · $385,000
List Price
$385,000
Assumable Rate
2.88%
Remaining Balance
$288,750
Equity Gap
$96,249
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$96,249
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.88% + gap loan
$1,737/moAssumed loan: $1,199/mo
Gap financing: $538/mo
$575less per month with the assumable
Your Savings on This Property
16353 Blue Yonder View, Monument · 2.88% VA vs 6.5% conventional
$575
per month
$6,896
per year
$206,866
over 30 years
$206,865
interest saved
How gap financing works: The equity gap ($96,249) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($76,999 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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