Loan Comparison: 3.45% vs 6.5%
16274 Windy Creek, Monument, CO 80132 · 5bd/3ba · $660,000
List Price
$660,000
Assumable Rate
3.45%
Remaining Balance
$209,600
Equity Gap
$450,399
Loan Type
VAAdjust Your Scenario
$33,000
$33,000$450,399
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 6.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 3.45% + gap loan
$4,145/moAssumed loan: $935/mo
Gap financing: $3,209/mo
Your Savings on This Property
16274 Windy Creek, Monument · 3.45% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($450,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($417,399 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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