Loan Comparison: 3.16% vs 6.5%
17906 Blue Opal, Monument, CO 80132 · 5bd/3ba · $630,000
List Price
$630,000
Assumable Rate
3.16%
Remaining Balance
$371,128
Equity Gap
$258,872
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$258,872
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.16% + gap loan
$3,345/moAssumed loan: $1,597/mo
Gap financing: $1,748/mo
$438less per month with the assumable
Your Savings on This Property
17906 Blue Opal, Monument · 3.16% VA vs 6.5% conventional
$438
per month
$5,253
per year
$157,585
over 30 years
$157,585
interest saved
How gap financing works: The equity gap ($258,872) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($227,372 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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