Loan Comparison: 2.9% vs 6.5%
1115 Pipestone Court, Colorado Springs, CO 80911 · 6bd/4ba · $444,900
List Price
$444,900
Assumable Rate
2.9%
Remaining Balance
$123,475
Equity Gap
$321,425
Loan Type
VAAdjust Your Scenario
$22,245
$22,245$321,425
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,671/moAssumable @ 2.9% + gap loan
$2,606/moAssumed loan: $514/mo
Gap financing: $2,092/mo
$66less per month with the assumable
Your Savings on This Property
1115 Pipestone Court, Colorado Springs · 2.9% VA vs 6.5% conventional
$66
per month
$787
per year
$23,622
over 30 years
$23,622
interest saved
How gap financing works: The equity gap ($321,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,245, 5% of purchase price) and a second mortgage for the rest ($299,180 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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