Loan Comparison: 2.99% vs 6.5%
15654 Split Creek, Monument, CO 80132 · 4bd/4ba · $685,000
List Price
$685,000
Assumable Rate
2.99%
Remaining Balance
$533,159
Equity Gap
$150,653
Loan Type
VAAdjust Your Scenario
$34,250
$34,250$150,653
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 2.99% + gap loan
$3,140/moAssumed loan: $2,245/mo
Gap financing: $895/mo
$973less per month with the assumable
Your Savings on This Property
15654 Split Creek, Monument · 2.99% VA vs 6.5% conventional
$973
per month
$11,678
per year
$350,352
over 30 years
$349,164
interest saved
How gap financing works: The equity gap ($150,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($116,403 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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