Loan Comparison: 2.83% vs 6.5%
254 Candletree, Monument, CO 80132 · 4bd/4ba · $565,000
List Price
$565,000
Assumable Rate
2.83%
Remaining Balance
$424,896
Equity Gap
$140,103
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$140,103
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.83% + gap loan
$2,613/moAssumed loan: $1,753/mo
Gap financing: $860/mo
$780less per month with the assumable
Your Savings on This Property
254 Candletree, Monument · 2.83% VA vs 6.5% conventional
$780
per month
$9,359
per year
$280,769
over 30 years
$280,768
interest saved
How gap financing works: The equity gap ($140,103) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($111,853 at 8.5%). 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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