Loan Comparison: 3.06% vs 6.5%
17916 Lapis, Monument, CO 80132 · 4bd/3ba · $599,900
List Price
$599,900
Assumable Rate
3.06%
Remaining Balance
$475,887
Equity Gap
$124,013
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$124,013
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 3.06% + gap loan
$2,745/moAssumed loan: $2,022/mo
Gap financing: $723/mo
$857less per month with the assumable
Your Savings on This Property
17916 Lapis, Monument · 3.06% VA vs 6.5% conventional
$857
per month
$10,290
per year
$308,693
over 30 years
$308,693
interest saved
How gap financing works: The equity gap ($124,013) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($94,018 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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