Loan Comparison: 2.77% vs 6.5%
15805 Dawson Creek, Monument, CO 80132 · 4bd/3ba · $750,000
List Price
$750,000
Assumable Rate
2.77%
Remaining Balance
$510,035
Equity Gap
$239,965
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$239,965
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 2.77% + gap loan
$3,644/moAssumed loan: $2,088/mo
Gap financing: $1,557/mo
$859less per month with the assumable
Your Savings on This Property
15805 Dawson Creek, Monument · 2.77% VA vs 6.5% conventional
$859
per month
$10,309
per year
$309,285
over 30 years
$309,285
interest saved
How gap financing works: The equity gap ($239,965) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($202,465 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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