Loan Comparison: 2.85% vs 6.5%
19795 Sleepy Hollow, Monument, CO 80132 · 5bd/4ba · $1,249,000
List Price
$1,249,000
Assumable Rate
2.85%
Remaining Balance
$983,164
Equity Gap
$371,355
Loan Type
VAAdjust Your Scenario
$62,450
$62,450$371,355
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,500/moAssumable @ 2.85% + gap loan
$6,441/moAssumed loan: $4,066/mo
Gap financing: $2,375/mo
$1,059less per month with the assumable
Your Savings on This Property
19795 Sleepy Hollow, Monument · 2.85% VA vs 6.5% conventional
$1,059
per month
$12,704
per year
$381,112
over 30 years
$486,631
interest saved
How gap financing works: The equity gap ($371,355) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,450, 5% of purchase price) and a second mortgage for the rest ($308,905 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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