Loan Comparison: 4% vs 6.5%
18320 Sloan Lane, Monument, CO 80132 · 4bd/3ba · $599,900
List Price
$599,900
Assumable Rate
4%
Remaining Balance
$407,743
Equity Gap
$192,157
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$192,157
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 4% + gap loan
$3,080/moAssumed loan: $1,947/mo
Gap financing: $1,134/mo
$522less per month with the assumable
Your Savings on This Property
18320 Sloan Lane, Monument · 4% VA vs 6.5% conventional
$522
per month
$6,260
per year
$187,812
over 30 years
$187,812
interest saved
How gap financing works: The equity gap ($192,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($162,162 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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