Loan Comparison: 2.78% vs 6.5%
535 Rock Creek Mesa Road, Colorado Springs, CO 80926 · 3bd/3ba · $724,900
List Price
$724,900
Assumable Rate
2.78%
Remaining Balance
$405,202
Equity Gap
$319,698
Loan Type
VAAdjust Your Scenario
$36,245
$36,245$319,698
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.78% + gap loan
$3,643/moAssumed loan: $1,661/mo
Gap financing: $1,982/mo
$710less per month with the assumable
Your Savings on This Property
535 Rock Creek Mesa Road, Colorado Springs · 2.78% VA vs 6.5% conventional
$710
per month
$8,522
per year
$255,663
over 30 years
$255,663
interest saved
How gap financing works: The equity gap ($319,698) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,245, 5% of purchase price) and a second mortgage for the rest ($283,453 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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