Loan Comparison: 2.9% vs 6.5%
5660 Tuckerman Drive, Colorado Springs, CO 80918 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
2.9%
Remaining Balance
$377,611
Equity Gap
$72,389
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$72,389
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.9% + gap loan
$1,921/moAssumed loan: $1,572/mo
Gap financing: $349/mo
$782less per month with the assumable
Your Savings on This Property
5660 Tuckerman Drive, Colorado Springs · 2.9% VA vs 6.5% conventional
$782
per month
$9,378
per year
$281,351
over 30 years
$281,351
interest saved
How gap financing works: The equity gap ($72,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($49,889 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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