Loan Comparison: 3.45% vs 6.5%
917 Burning Bush Point, Monument, CO 80132 · 4bd/3ba · $354,900
List Price
$354,900
Assumable Rate
3.45%
Remaining Balance
$115,234
Equity Gap
$239,666
Loan Type
VAAdjust Your Scenario
$17,745
$17,745$239,666
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 3.45% + gap loan
$2,066/moAssumed loan: $514/mo
Gap financing: $1,552/mo
$65less per month with the assumable
Your Savings on This Property
917 Burning Bush Point, Monument · 3.45% VA vs 6.5% conventional
$65
per month
$781
per year
$23,437
over 30 years
$23,437
interest saved
How gap financing works: The equity gap ($239,666) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($221,921 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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