Loan Comparison: 4.98% vs 6.5%
786 Tailings, Monument, CO 80132 · 4bd/3ba · $649,900
List Price
$649,900
Assumable Rate
4.98%
Remaining Balance
$625,000
Equity Gap
$59,406
Loan Type
VAAdjust Your Scenario
$32,495
$32,495$59,406
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 4.98% + gap loan
$3,554/moAssumed loan: $3,347/mo
Gap financing: $207/mo
$348less per month with the assumable
Your Savings on This Property
786 Tailings, Monument · 4.98% VA vs 6.5% conventional
$348
per month
$4,176
per year
$125,279
over 30 years
$159,785
interest saved
How gap financing works: The equity gap ($59,406) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($26,911 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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