Loan Comparison: 2.77% vs 6.5%
2573 Lakes Edge, Monument, CO 80132 · 4bd/3ba · $829,900
List Price
$829,900
Assumable Rate
2.77%
Remaining Balance
$361,940
Equity Gap
$466,289
Loan Type
VAAdjust Your Scenario
$41,495
$41,495$466,289
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,983/moAssumable @ 2.77% + gap loan
$4,748/moAssumed loan: $1,481/mo
Gap financing: $3,266/mo
$236less per month with the assumable
Your Savings on This Property
2573 Lakes Edge, Monument · 2.77% VA vs 6.5% conventional
$236
per month
$2,826
per year
$84,792
over 30 years
$83,121
interest saved
How gap financing works: The equity gap ($466,289) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,495, 5% of purchase price) and a second mortgage for the rest ($424,794 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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