Loan Comparison: 2.87% vs 6.5%
1926 Peak Prairie, Monument, CO 80132 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
2.87%
Remaining Balance
$295,733
Equity Gap
$179,266
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$179,266
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.87% + gap loan
$2,422/moAssumed loan: $1,226/mo
Gap financing: $1,196/mo
$430less per month with the assumable
Your Savings on This Property
1926 Peak Prairie, Monument · 2.87% VA vs 6.5% conventional
$430
per month
$5,163
per year
$154,886
over 30 years
$154,885
interest saved
How gap financing works: The equity gap ($179,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($155,516 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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