Loan Comparison: 2.72% vs 6.5%
2483 Majestic Plains Court, Colorado Springs, CO 80915 · 2bd/2ba · $475,000
List Price
$475,000
Assumable Rate
2.72%
Remaining Balance
$352,369
Equity Gap
$122,630
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$122,630
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (VA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.72% + gap loan
$2,124/moAssumed loan: $1,433/mo
Gap financing: $691/mo
$728less per month with the assumable
Your Savings on This Property
2483 Majestic Plains Court, Colorado Springs · 2.72% VA vs 6.5% conventional
$728
per month
$8,735
per year
$262,045
over 30 years
$262,044
interest saved
How gap financing works: The equity gap ($122,630) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($98,880 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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