Loan Comparison: 2.96% vs 6.5%
797 Century, Monument, CO 80132 · 3bd/4ba · $419,000
List Price
$419,000
Assumable Rate
2.96%
Remaining Balance
$278,466
Equity Gap
$140,534
Loan Type
VAAdjust Your Scenario
$20,950
$20,950$140,534
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,516/moAssumable @ 2.96% + gap loan
$2,088/moAssumed loan: $1,168/mo
Gap financing: $919/mo
$428less per month with the assumable
Your Savings on This Property
797 Century, Monument · 2.96% VA vs 6.5% conventional
$428
per month
$5,141
per year
$154,233
over 30 years
$154,233
interest saved
How gap financing works: The equity gap ($140,534) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,950, 5% of purchase price) and a second mortgage for the rest ($119,584 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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