Loan Comparison: 3.1% vs 6.5%
17215 Fairplay, Monument, CO 80132 · 4bd/6ba · $1,068,960
List Price
$1,068,960
Assumable Rate
3.1%
Remaining Balance
$467,325
Equity Gap
$662,979
Loan Type
VAAdjust Your Scenario
$53,448
$53,448$662,979
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,419/moAssumable @ 3.1% + gap loan
$6,682/moAssumed loan: $1,996/mo
Gap financing: $4,687/mo
Your Savings on This Property
17215 Fairplay, Monument · 3.1% 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 ($662,979) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,448, 5% of purchase price) and a second mortgage for the rest ($609,531 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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