Loan Comparison: 2.94% vs 6.5%
16555 Hallmark, Monument, CO 80132 · 4bd/3ba · $630,000
List Price
$630,000
Assumable Rate
2.94%
Remaining Balance
$395,359
Equity Gap
$234,641
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$234,641
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 2.94% + gap loan
$3,216/moAssumed loan: $1,654/mo
Gap financing: $1,562/mo
$567less per month with the assumable
Your Savings on This Property
16555 Hallmark, Monument · 2.94% VA vs 6.5% conventional
$567
per month
$6,802
per year
$204,072
over 30 years
$204,072
interest saved
How gap financing works: The equity gap ($234,641) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($203,141 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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