Loan Comparison: 3.45% vs 6.5%
917 Burning Bush, Monument, CO 80132 · 2bd/3ba · $354,900
List Price
$354,900
Assumable Rate
3.45%
Remaining Balance
$116,068
Equity Gap
$238,417
Loan Type
VAAdjust Your Scenario
$17,745
$17,745$238,417
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 6.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 3.45% + gap loan
$2,215/moAssumed loan: $518/mo
Gap financing: $1,697/mo
Your Savings on This Property
917 Burning Bush, Monument · 3.45% 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 ($238,417) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($220,672 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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