Loan Comparison: 3.8% vs 6.5%
773 Sally Hill Court, Monument, CO 80132 · 4bd/3ba · $680,000
List Price
$680,000
Assumable Rate
3.8%
Remaining Balance
$359,725
Equity Gap
$320,274
Loan Type
VAAdjust Your Scenario
$34,000
$34,000$320,274
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 3.8% + gap loan
$3,678/moAssumed loan: $1,676/mo
Gap financing: $2,002/mo
$405less per month with the assumable
Your Savings on This Property
773 Sally Hill Court, Monument · 3.8% VA vs 6.5% conventional
$405
per month
$4,864
per year
$145,917
over 30 years
$145,916
interest saved
How gap financing works: The equity gap ($320,274) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($286,274 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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