Loan Comparison: 2.87% vs 6.5%
19965 Talking Rock, Monument, CO 80132 · 4bd/4ba · $679,900
List Price
$679,900
Assumable Rate
2.87%
Remaining Balance
$347,114
Equity Gap
$332,786
Loan Type
VAAdjust Your Scenario
$33,995
$33,995$332,786
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 2.87% + gap loan
$3,737/moAssumed loan: $1,439/mo
Gap financing: $2,297/mo
$346less per month with the assumable
Your Savings on This Property
19965 Talking Rock, Monument · 2.87% VA vs 6.5% conventional
$346
per month
$4,151
per year
$124,521
over 30 years
$124,521
interest saved
How gap financing works: The equity gap ($332,786) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,995, 5% of purchase price) and a second mortgage for the rest ($298,791 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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