Loan Comparison: 2.87% vs 6.5%
1926 Peak Prairie, Monument, CO 80132 · 3bd/3ba · $480,000
List Price
$480,000
Assumable Rate
2.87%
Remaining Balance
$296,388
Equity Gap
$183,611
Loan Type
VAAdjust Your Scenario
$24,000
$24,000$183,611
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.87% + gap loan
$2,456/moAssumed loan: $1,229/mo
Gap financing: $1,227/mo
$426less per month with the assumable
Your Savings on This Property
1926 Peak Prairie, Monument · 2.87% VA vs 6.5% conventional
$426
per month
$5,113
per year
$153,382
over 30 years
$153,381
interest saved
How gap financing works: The equity gap ($183,611) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($159,611 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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