Loan Comparison: 2.77% vs 6.5%
20060 Laredo, Monument, CO 80132 · 4bd/3ba · $769,000
List Price
$769,000
Assumable Rate
2.77%
Remaining Balance
$356,627
Equity Gap
$412,373
Loan Type
VAAdjust Your Scenario
$38,450
$38,450$412,373
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,618/moAssumable @ 2.77% + gap loan
$4,335/moAssumed loan: $1,460/mo
Gap financing: $2,875/mo
$283less per month with the assumable
Your Savings on This Property
20060 Laredo, Monument · 2.77% VA vs 6.5% conventional
$283
per month
$3,393
per year
$101,790
over 30 years
$101,790
interest saved
How gap financing works: The equity gap ($412,373) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,450, 5% of purchase price) and a second mortgage for the rest ($373,923 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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