Loan Comparison: 3.13% vs 6.5%
17592 Colonial Park Drive, Monument, CO 80132 · 5bd/5ba · $1,300,000
List Price
$1,300,000
Assumable Rate
3.13%
Remaining Balance
$701,823
Equity Gap
$598,177
Loan Type
VAAdjust Your Scenario
$65,000
$65,000$598,177
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,806/moAssumable @ 3.13% + gap loan
$6,736/moAssumed loan: $3,008/mo
Gap financing: $3,728/mo
$1,070less per month with the assumable
Your Savings on This Property
17592 Colonial Park Drive, Monument · 3.13% VA vs 6.5% conventional
$1,070
per month
$12,836
per year
$385,071
over 30 years
$385,071
interest saved
How gap financing works: The equity gap ($598,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($65,000, 5% of purchase price) and a second mortgage for the rest ($533,177 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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