Loan Comparison: 2.87% vs 6.5%
17556 Colonial Park, Monument, CO 80132 · 4bd/5ba · $1,300,000
List Price
$1,300,000
Assumable Rate
2.87%
Remaining Balance
$521,497
Equity Gap
$778,503
Loan Type
VAAdjust Your Scenario
$65,000
$65,000$778,503
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,806/moAssumable @ 2.87% + gap loan
$7,648/moAssumed loan: $2,162/mo
Gap financing: $5,486/mo
$158less per month with the assumable
Your Savings on This Property
17556 Colonial Park, Monument · 2.87% VA vs 6.5% conventional
$158
per month
$1,891
per year
$56,722
over 30 years
$56,722
interest saved
How gap financing works: The equity gap ($778,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($65,000, 5% of purchase price) and a second mortgage for the rest ($713,503 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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