Loan Comparison: 3.3% vs 6.5%
16274 Windy Creek Drive, Monument, CO 80132 · 5bd/4ba · $660,000
List Price
$660,000
Assumable Rate
3.3%
Remaining Balance
$208,450
Equity Gap
$451,550
Loan Type
VAAdjust Your Scenario
$33,000
$33,000$451,550
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 3.3% + gap loan
$3,839/moAssumed loan: $913/mo
Gap financing: $2,927/mo
$124less per month with the assumable
Your Savings on This Property
16274 Windy Creek Drive, Monument · 3.3% VA vs 6.5% conventional
$124
per month
$1,483
per year
$44,491
over 30 years
$44,491
interest saved
How gap financing works: The equity gap ($451,550) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($418,550 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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