Loan Comparison: 2.7% vs 6.5%
16315 Windy Creek Drive, Monument, CO 80132 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.7%
Remaining Balance
$375,710
Equity Gap
$139,289
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$139,289
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.7% + gap loan
$2,318/moAssumed loan: $1,524/mo
Gap financing: $794/mo
$775less per month with the assumable
Your Savings on This Property
16315 Windy Creek Drive, Monument · 2.7% VA vs 6.5% conventional
$775
per month
$9,296
per year
$278,871
over 30 years
$278,870
interest saved
How gap financing works: The equity gap ($139,289) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($113,539 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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