Loan Comparison: 2.79% vs 6.5%
4226 Mesa Top, Monument, CO 80132 · 5bd/4ba · $955,000
List Price
$955,000
Assumable Rate
2.79%
Remaining Balance
$627,137
Equity Gap
$327,863
Loan Type
VAAdjust Your Scenario
$47,750
$47,750$327,863
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,734/moAssumable @ 2.79% + gap loan
$4,727/moAssumed loan: $2,574/mo
Gap financing: $2,154/mo
$1,007less per month with the assumable
Your Savings on This Property
4226 Mesa Top, Monument · 2.79% VA vs 6.5% conventional
$1,007
per month
$12,085
per year
$362,546
over 30 years
$362,546
interest saved
How gap financing works: The equity gap ($327,863) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,750, 5% of purchase price) and a second mortgage for the rest ($280,113 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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