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
$474,848
Equity Gap
$125,052
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$125,052
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 3.06% + gap loan
$2,748/moAssumed loan: $2,017/mo
Gap financing: $731/mo
$854less per month with the assumable
Your Savings on This Property
17916 Lapis, Monument · 3.06% VA vs 6.5% conventional
$854
per month
$10,247
per year
$307,406
over 30 years
$307,406
interest saved
How gap financing works: The equity gap ($125,052) 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 ($95,057 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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