Loan Comparison: 2.85% vs 6.5%
19795 Sleepy Hollow, Monument, CO 80132 · 5bd/4ba · $1,199,000
List Price
$1,199,000
Assumable Rate
2.85%
Remaining Balance
$875,663
Equity Gap
$321,355
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$321,355
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 2.85% + gap loan
$5,631/moAssumed loan: $3,621/mo
Gap financing: $2,010/mo
$1,568less per month with the assumable
Your Savings on This Property
19795 Sleepy Hollow, Monument · 2.85% VA vs 6.5% conventional
$1,568
per month
$18,819
per year
$564,560
over 30 years
$562,578
interest saved
How gap financing works: The equity gap ($321,355) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($261,405 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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