Loan Comparison: 5.11% vs 6.5%
1459 Coronado Beach, Monument, CO 80132 · 4bd/3ba · $919,000
List Price
$919,000
Assumable Rate
5.11%
Remaining Balance
$767,290
Equity Gap
$152,871
Loan Type
VAAdjust Your Scenario
$45,950
$45,950$152,871
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.11% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,518/moAssumable @ 5.11% + gap loan
$4,993/moAssumed loan: $4,171/mo
Gap financing: $822/mo
$525less per month with the assumable
Your Savings on This Property
1459 Coronado Beach, Monument · 5.11% VA vs 6.5% conventional
$525
per month
$6,305
per year
$189,153
over 30 years
$190,314
interest saved
How gap financing works: The equity gap ($152,871) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,950, 5% of purchase price) and a second mortgage for the rest ($106,921 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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