Loan Comparison: 2.84% vs 6.5%
19534 Lindenmere Drive, Monument, CO 80132 · 4bd/3ba · $689,900
List Price
$689,900
Assumable Rate
2.84%
Remaining Balance
$489,322
Equity Gap
$200,578
Loan Type
VAAdjust Your Scenario
$34,495
$34,495$200,578
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 2.84% + gap loan
$3,182/moAssumed loan: $2,021/mo
Gap financing: $1,161/mo
$960less per month with the assumable
Your Savings on This Property
19534 Lindenmere Drive, Monument · 2.84% VA vs 6.5% conventional
$960
per month
$11,524
per year
$345,712
over 30 years
$345,712
interest saved
How gap financing works: The equity gap ($200,578) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,495, 5% of purchase price) and a second mortgage for the rest ($166,083 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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