Loan Comparison: 2.88% vs 6.5%
5123 Stillwater Drive, Colorado Springs, CO 80923 · 3bd/3ba · $405,000
List Price
$405,000
Assumable Rate
2.88%
Remaining Balance
$354,733
Equity Gap
$50,266
Loan Type
VAAdjust Your Scenario
$20,250
$20,250$50,266
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 2.88% + gap loan
$1,683/moAssumed loan: $1,473/mo
Gap financing: $210/mo
$749less per month with the assumable
Your Savings on This Property
5123 Stillwater Drive, Colorado Springs · 2.88% VA vs 6.5% conventional
$749
per month
$8,992
per year
$269,747
over 30 years
$269,746
interest saved
How gap financing works: The equity gap ($50,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($30,016 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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