Loan Comparison: 2.96% vs 6.5%
6726 Lucky Star Lane, Colorado Springs, CO 80923 · 6bd/4ba · $459,900
List Price
$459,900
Assumable Rate
2.96%
Remaining Balance
$266,524
Equity Gap
$193,376
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$193,376
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.96% + gap loan
$2,309/moAssumed loan: $1,118/mo
Gap financing: $1,191/mo
$452less per month with the assumable
Your Savings on This Property
6726 Lucky Star Lane, Colorado Springs · 2.96% VA vs 6.5% conventional
$452
per month
$5,427
per year
$162,819
over 30 years
$162,819
interest saved
How gap financing works: The equity gap ($193,376) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($170,381 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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