Loan Comparison: 2.83% vs 6.5%
143 Misty Creek, Monument, CO 80132 · 3bd/4ba · $510,000
List Price
$510,000
Assumable Rate
2.83%
Remaining Balance
$307,428
Equity Gap
$201,139
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$201,139
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.83% + gap loan
$2,619/moAssumed loan: $1,268/mo
Gap financing: $1,351/mo
$444less per month with the assumable
Your Savings on This Property
143 Misty Creek, Monument · 2.83% VA vs 6.5% conventional
$444
per month
$5,325
per year
$159,748
over 30 years
$158,315
interest saved
How gap financing works: The equity gap ($201,139) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($175,639 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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