Loan Comparison: 3.45% vs 6.5%
18320 Sloan, Monument, CO 80132 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
3.45%
Remaining Balance
$406,154
Equity Gap
$218,845
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$218,845
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.45% + gap loan
$3,255/moAssumed loan: $1,812/mo
Gap financing: $1,442/mo
$498less per month with the assumable
Your Savings on This Property
18320 Sloan, Monument · 3.45% VA vs 6.5% conventional
$498
per month
$5,976
per year
$179,267
over 30 years
$179,266
interest saved
How gap financing works: The equity gap ($218,845) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($187,595 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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