Loan Comparison: 2.9% vs 6.5%
15972 Lake Mist, Monument, CO 80132 · 5bd/4ba · $825,000
List Price
$825,000
Assumable Rate
2.9%
Remaining Balance
$496,428
Equity Gap
$328,572
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$328,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 2.9% + gap loan
$4,276/moAssumed loan: $2,066/mo
Gap financing: $2,209/mo
$678less per month with the assumable
Your Savings on This Property
15972 Lake Mist, Monument · 2.9% VA vs 6.5% conventional
$678
per month
$8,140
per year
$244,186
over 30 years
$244,186
interest saved
How gap financing works: The equity gap ($328,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($287,322 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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