Loan Comparison: 2.87% vs 6.5%
7585 Alpine Daisy Drive, Colorado Springs, CO 80925 · 3bd/3ba · $474,000
List Price
$474,000
Assumable Rate
2.87%
Remaining Balance
$432,554
Equity Gap
$41,446
Loan Type
VAAdjust Your Scenario
$23,700
$23,700$41,446
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,846/moAssumable @ 2.87% + gap loan
$1,918/moAssumed loan: $1,793/mo
Gap financing: $124/mo
$929less per month with the assumable
Your Savings on This Property
7585 Alpine Daisy Drive, Colorado Springs · 2.87% VA vs 6.5% conventional
$929
per month
$11,144
per year
$334,311
over 30 years
$334,311
interest saved
How gap financing works: The equity gap ($41,446) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,700, 5% of purchase price) and a second mortgage for the rest ($17,746 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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