Loan Comparison: 3.21% vs 6.5%
17870 New London, Monument, CO 80132 · 6bd/5ba · $1,100,000
List Price
$1,100,000
Assumable Rate
3.21%
Remaining Balance
$783,880
Equity Gap
$316,120
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$316,120
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.21% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 3.21% + gap loan
$5,402/moAssumed loan: $3,394/mo
Gap financing: $2,008/mo
$1,203less per month with the assumable
Your Savings on This Property
17870 New London, Monument · 3.21% VA vs 6.5% conventional
$1,203
per month
$14,436
per year
$433,085
over 30 years
$433,085
interest saved
How gap financing works: The equity gap ($316,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($261,120 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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