Loan Comparison: 3.18% vs 6.5%
1215 Night Blue, Monument, CO 80132 · 6bd/4ba · $845,000
List Price
$845,000
Assumable Rate
3.18%
Remaining Balance
$463,468
Equity Gap
$381,532
Loan Type
VAAdjust Your Scenario
$42,250
$42,250$381,532
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,074/moAssumable @ 3.18% + gap loan
$4,608/moAssumed loan: $1,999/mo
Gap financing: $2,609/mo
$466less per month with the assumable
Your Savings on This Property
1215 Night Blue, Monument · 3.18% VA vs 6.5% conventional
$466
per month
$5,590
per year
$167,710
over 30 years
$167,710
interest saved
How gap financing works: The equity gap ($381,532) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,250, 5% of purchase price) and a second mortgage for the rest ($339,282 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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