Loan Comparison: 2.8% vs 6.5%
4349 Kaolin Court, Colorado Springs, CO 80938 · 2bd/2ba · $440,000
List Price
$440,000
Assumable Rate
2.8%
Remaining Balance
$337,132
Equity Gap
$102,867
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$102,867
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.8% + gap loan
$1,951/moAssumed loan: $1,385/mo
Gap financing: $565/mo
$691less per month with the assumable
Your Savings on This Property
4349 Kaolin Court, Colorado Springs · 2.8% VA vs 6.5% conventional
$691
per month
$8,296
per year
$248,887
over 30 years
$248,886
interest saved
How gap financing works: The equity gap ($102,867) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($80,867 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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