Loan Comparison: 2.93% vs 6.5%
8162 Postrock Drive, Colorado Springs, CO 80951 · 5bd/4ba · $440,000
List Price
$440,000
Assumable Rate
2.93%
Remaining Balance
$390,138
Equity Gap
$49,862
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$49,862
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.93% (VA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.93% + gap loan
$1,825/moAssumed loan: $1,630/mo
Gap financing: $195/mo
$817less per month with the assumable
Your Savings on This Property
8162 Postrock Drive, Colorado Springs · 2.93% VA vs 6.5% conventional
$817
per month
$9,805
per year
$294,150
over 30 years
$294,150
interest saved
How gap financing works: The equity gap ($49,862) 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 ($27,862 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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