Loan Comparison: 3.44% vs 6.5%
809 Tailings, Monument, CO 80132 · 4bd/3ba · $579,000
List Price
$579,000
Assumable Rate
3.44%
Remaining Balance
$217,092
Equity Gap
$361,907
Loan Type
VAAdjust Your Scenario
$28,950
$28,950$361,907
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 3.44% + gap loan
$3,528/moAssumed loan: $968/mo
Gap financing: $2,560/mo
Your Savings on This Property
809 Tailings, Monument · 3.44% 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 ($361,907) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($332,957 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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