Loan Comparison: 2.74% vs 6.5%
1542 Summerglow, Monument, CO 80132 · 4bd/5ba · $1,225,000
List Price
$1,225,000
Assumable Rate
2.74%
Remaining Balance
$471,818
Equity Gap
$805,049
Loan Type
VAAdjust Your Scenario
$61,250
$61,250$805,049
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,356/moAssumable @ 2.74% + gap loan
$7,643/moAssumed loan: $1,924/mo
Gap financing: $5,719/mo
Your Savings on This Property
1542 Summerglow, Monument · 2.74% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($805,049) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($61,250, 5% of purchase price) and a second mortgage for the rest ($743,799 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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