Loan Comparison: 3.34% vs 6.5%
721 Forest View Road, Monument, CO 80132 · 5bd/5ba · $825,000
List Price
$825,000
Assumable Rate
3.34%
Remaining Balance
$544,491
Equity Gap
$280,509
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$280,509
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 3.34% + gap loan
$4,070/moAssumed loan: $2,397/mo
Gap financing: $1,673/mo
$884less per month with the assumable
Your Savings on This Property
721 Forest View Road, Monument · 3.34% VA vs 6.5% conventional
$884
per month
$10,611
per year
$318,334
over 30 years
$318,334
interest saved
How gap financing works: The equity gap ($280,509) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($239,259 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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