Loan Comparison: 2.77% vs 6.5%
16115 Bridle Ridge, Monument, CO 80132 · 4bd/4ba · $699,000
List Price
$699,000
Assumable Rate
2.77%
Remaining Balance
$357,923
Equity Gap
$343,568
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$343,568
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.77% + gap loan
$3,838/moAssumed loan: $1,465/mo
Gap financing: $2,373/mo
$359less per month with the assumable
Your Savings on This Property
16115 Bridle Ridge, Monument · 2.77% VA vs 6.5% conventional
$359
per month
$4,311
per year
$129,333
over 30 years
$131,824
interest saved
How gap financing works: The equity gap ($343,568) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($308,618 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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