Loan Comparison: 6.22% vs 6.5%
380 Scrub Oak Circle, Monument, CO 80132 · 5bd/5ba · $775,000
List Price
$775,000
Assumable Rate
6.22%
Remaining Balance
$664,124
Equity Gap
$110,875
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$110,875
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.22% (VA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 6.22% + gap loan
$4,580/moAssumed loan: $4,076/mo
Gap financing: $504/mo
$73less per month with the assumable
Your Savings on This Property
380 Scrub Oak Circle, Monument · 6.22% VA vs 6.5% conventional
$73
per month
$877
per year
$26,322
over 30 years
$26,321
interest saved
How gap financing works: The equity gap ($110,875) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($72,125 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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