Loan Comparison: 2.77% vs 6.5%
1709 Colorado Avenue, Colorado Springs, CO 80904 · 3bd/2ba · $389,000
List Price
$389,000
Assumable Rate
2.77%
Remaining Balance
$213,900
Equity Gap
$175,099
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$175,099
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 2.77% + gap loan
$1,964/moAssumed loan: $875/mo
Gap financing: $1,088/mo
$372less per month with the assumable
Your Savings on This Property
1709 Colorado Avenue, Colorado Springs · 2.77% VA vs 6.5% conventional
$372
per month
$4,464
per year
$133,917
over 30 years
$133,916
interest saved
How gap financing works: The equity gap ($175,099) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($155,649 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1709 Colorado Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.