Loan Comparison: 6.79% vs 6.5%
5425 Mesa Top Drive, Monument, CO 80132 · 4bd/4ba · $1,189,000
List Price
$1,189,000
Assumable Rate
6.79%
Remaining Balance
$1,044,474
Equity Gap
$144,525
Loan Type
VAAdjust Your Scenario
$59,450
$59,450$144,525
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.79% (VA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,140/moAssumable @ 6.79% + gap loan
$7,397/moAssumed loan: $6,802/mo
Gap financing: $595/mo
Your Savings on This Property
5425 Mesa Top Drive, Monument · 6.79% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($144,525) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,450, 5% of purchase price) and a second mortgage for the rest ($85,075 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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