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
$473,807
Equity Gap
$126,092
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$126,092
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 3.06% + gap loan
$2,752/moAssumed loan: $2,013/mo
Gap financing: $739/mo
$850less per month with the assumable
Your Savings on This Property
17916 Lapis, Monument · 3.06% VA vs 6.5% conventional
$850
per month
$10,204
per year
$306,119
over 30 years
$306,118
interest saved
How gap financing works: The equity gap ($126,092) 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 ($96,097 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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