Loan Comparison: 3.07% vs 6.5%
2382 Pelican Bay, Monument, CO 80132 · 5bd/4ba · $675,000
List Price
$675,000
Assumable Rate
3.07%
Remaining Balance
$445,773
Equity Gap
$228,268
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$228,268
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.07% + gap loan
$3,392/moAssumed loan: $1,896/mo
Gap financing: $1,496/mo
$661less per month with the assumable
Your Savings on This Property
2382 Pelican Bay, Monument · 3.07% VA vs 6.5% conventional
$661
per month
$7,934
per year
$238,030
over 30 years
$237,071
interest saved
How gap financing works: The equity gap ($228,268) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($194,518 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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