Loan Comparison: 2.9% vs 6.5%
1723 Woodmoor, Monument, CO 80132 · 3bd/2ba · $409,000
List Price
$409,000
Assumable Rate
2.9%
Remaining Balance
$311,880
Equity Gap
$97,809
Loan Type
VAAdjust Your Scenario
$20,450
$20,450$97,809
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,456/moAssumable @ 2.9% + gap loan
$1,893/moAssumed loan: $1,298/mo
Gap financing: $595/mo
$563less per month with the assumable
Your Savings on This Property
1723 Woodmoor, Monument · 2.9% VA vs 6.5% conventional
$563
per month
$6,755
per year
$202,658
over 30 years
$203,347
interest saved
How gap financing works: The equity gap ($97,809) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,450, 5% of purchase price) and a second mortgage for the rest ($77,359 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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