Loan Comparison: 3.02% vs 6.5%
265 Talus, Monument, CO 80132 · 4bd/4ba · $549,900
List Price
$549,900
Assumable Rate
3.02%
Remaining Balance
$243,444
Equity Gap
$306,455
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$306,455
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.02% + gap loan
$3,174/moAssumed loan: $1,029/mo
Gap financing: $2,145/mo
$128less per month with the assumable
Your Savings on This Property
265 Talus, Monument · 3.02% VA vs 6.5% conventional
$128
per month
$1,536
per year
$46,079
over 30 years
$46,078
interest saved
How gap financing works: The equity gap ($306,455) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($278,960 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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