Loan Comparison: 2.83% vs 6.5%
17085 Foxcross Drive, Monument, CO 80132 · 5bd/5ba · $550,000
List Price
$550,000
Assumable Rate
2.83%
Remaining Balance
$207,952
Equity Gap
$342,048
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$342,048
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.83% + gap loan
$3,057/moAssumed loan: $858/mo
Gap financing: $2,199/mo
$245less per month with the assumable
Your Savings on This Property
17085 Foxcross Drive, Monument · 2.83% VA vs 6.5% conventional
$245
per month
$2,945
per year
$88,346
over 30 years
$88,346
interest saved
How gap financing works: The equity gap ($342,048) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($314,548 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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