Loan Comparison: 2.66% vs 6.5%
16315 Windy Creek, Monument, CO 80132 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.66%
Remaining Balance
$376,303
Equity Gap
$148,697
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$148,697
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.66% + gap loan
$2,460/moAssumed loan: $1,518/mo
Gap financing: $942/mo
$693less per month with the assumable
Your Savings on This Property
16315 Windy Creek, Monument · 2.66% VA vs 6.5% conventional
$693
per month
$8,311
per year
$249,330
over 30 years
$249,330
interest saved
How gap financing works: The equity gap ($148,697) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($122,447 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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