Loan Comparison: 2.8% vs 6.5%
1420 Symphony Heights, Monument, CO 80132 · 5bd/5ba · $749,900
List Price
$749,900
Assumable Rate
2.8%
Remaining Balance
$252,339
Equity Gap
$497,560
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$497,560
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 2.8% + gap loan
$4,254/moAssumed loan: $1,037/mo
Gap financing: $3,217/mo
$249less per month with the assumable
Your Savings on This Property
1420 Symphony Heights, Monument · 2.8% VA vs 6.5% conventional
$249
per month
$2,990
per year
$89,711
over 30 years
$89,710
interest saved
How gap financing works: The equity gap ($497,560) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($460,065 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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