Loan Comparison: 2.8% vs 6.5%
9519 Cool Shadow Court, Colorado Springs, CO 80925 · 4bd/4ba · $405,995
List Price
$405,995
Assumable Rate
2.8%
Remaining Balance
$343,485
Equity Gap
$62,510
Loan Type
VAAdjust Your Scenario
$20,300
$20,300$62,510
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,438/moAssumable @ 2.8% + gap loan
$1,706/moAssumed loan: $1,411/mo
Gap financing: $295/mo
$731less per month with the assumable
Your Savings on This Property
9519 Cool Shadow Court, Colorado Springs · 2.8% VA vs 6.5% conventional
$731
per month
$8,776
per year
$263,289
over 30 years
$263,288
interest saved
How gap financing works: The equity gap ($62,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,300, 5% of purchase price) and a second mortgage for the rest ($42,210 at 7.5%). 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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