Loan Comparison: 2.73% vs 6.5%
18330 Bakers Farm Road, Colorado Springs, CO 80908 · 5bd/4ba · $1,200,000
List Price
$1,200,000
Assumable Rate
2.73%
Remaining Balance
$388,821
Equity Gap
$811,179
Loan Type
VAAdjust Your Scenario
$60,000
$60,000$811,179
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (VA)
Blended Rate: 5.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,206/moAssumable @ 2.73% + gap loan
$6,836/moAssumed loan: $1,583/mo
Gap financing: $5,252/mo
$370less per month with the assumable
Your Savings on This Property
18330 Bakers Farm Road, Colorado Springs · 2.73% VA vs 6.5% conventional
$370
per month
$4,440
per year
$133,204
over 30 years
$133,204
interest saved
How gap financing works: The equity gap ($811,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($60,000, 5% of purchase price) and a second mortgage for the rest ($751,179 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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