Loan Comparison: 2.77% vs 6.5%
15859 Bridle Ridge, Monument, CO 80132 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.77%
Remaining Balance
$392,990
Equity Gap
$132,937
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$132,937
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.77% + gap loan
$2,429/moAssumed loan: $1,609/mo
Gap financing: $820/mo
$724less per month with the assumable
Your Savings on This Property
15859 Bridle Ridge, Monument · 2.77% VA vs 6.5% conventional
$724
per month
$8,683
per year
$260,494
over 30 years
$261,421
interest saved
How gap financing works: The equity gap ($132,937) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($106,687 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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