Loan Comparison: 6.35% vs 6.5%
16297 Forest Cloud Way, Monument, CO 80132 · 5bd/5ba · $1,337,000
List Price
$1,337,000
Assumable Rate
6.35%
Remaining Balance
$998,973
Equity Gap
$338,027
Loan Type
VAAdjust Your Scenario
$66,850
$66,850$338,027
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (VA)
Blended Rate: 6.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,028/moAssumable @ 6.35% + gap loan
$8,112/moAssumed loan: $6,216/mo
Gap financing: $1,896/mo
Your Savings on This Property
16297 Forest Cloud Way, Monument · 6.35% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($338,027) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($66,850, 5% of purchase price) and a second mortgage for the rest ($271,177 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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