Loan Comparison: 2.9% vs 6.5%
2690 Edenderry Drive, Colorado Springs, CO 80919 · 4bd/4ba · $830,000
List Price
$830,000
Assumable Rate
2.9%
Remaining Balance
$436,223
Equity Gap
$393,777
Loan Type
VAAdjust Your Scenario
$41,500
$41,500$393,777
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,984/moAssumable @ 2.9% + gap loan
$4,279/moAssumed loan: $1,816/mo
Gap financing: $2,463/mo
$705less per month with the assumable
Your Savings on This Property
2690 Edenderry Drive, Colorado Springs · 2.9% VA vs 6.5% conventional
$705
per month
$8,460
per year
$253,798
over 30 years
$253,798
interest saved
How gap financing works: The equity gap ($393,777) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,500, 5% of purchase price) and a second mortgage for the rest ($352,277 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 2690 Edenderry Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.