Loan Comparison: 2.66% vs 6.5%
6724 Golden Briar Lane, Colorado Springs, CO 80927 · 4bd/2ba · $535,000
List Price
$535,000
Assumable Rate
2.66%
Remaining Balance
$380,566
Equity Gap
$154,433
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$154,433
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.66% + gap loan
$2,428/moAssumed loan: $1,536/mo
Gap financing: $893/mo
$784less per month with the assumable
Your Savings on This Property
6724 Golden Briar Lane, Colorado Springs · 2.66% VA vs 6.5% conventional
$784
per month
$9,410
per year
$282,299
over 30 years
$282,298
interest saved
How gap financing works: The equity gap ($154,433) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($127,683 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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