Loan Comparison: 2.77% vs 6.5%
18910 Archers, Monument, CO 80132 · 5bd/5ba · $1,375,000
List Price
$1,375,000
Assumable Rate
2.77%
Remaining Balance
$1,187,347
Equity Gap
$187,652
Loan Type
VAAdjust Your Scenario
$68,750
$68,750$187,652
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,256/moAssumable @ 2.77% + gap loan
$5,774/moAssumed loan: $4,860/mo
Gap financing: $914/mo
$2,482less per month with the assumable
Your Savings on This Property
18910 Archers, Monument · 2.77% VA vs 6.5% conventional
$2,482
per month
$29,788
per year
$893,631
over 30 years
$893,630
interest saved
How gap financing works: The equity gap ($187,652) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($68,750, 5% of purchase price) and a second mortgage for the rest ($118,902 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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