Loan Comparison: 2.78% vs 6.5%
1420 Rockhurst Boulevard, Colorado Springs, CO 80918 · 2bd/1ba · $998,000
List Price
$998,000
Assumable Rate
2.78%
Remaining Balance
$405,524
Equity Gap
$592,476
Loan Type
VAAdjust Your Scenario
$49,900
$49,900$592,476
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,993/moAssumable @ 2.78% + gap loan
$5,456/moAssumed loan: $1,662/mo
Gap financing: $3,794/mo
$537less per month with the assumable
Your Savings on This Property
1420 Rockhurst Boulevard, Colorado Springs · 2.78% VA vs 6.5% conventional
$537
per month
$6,443
per year
$193,284
over 30 years
$193,284
interest saved
How gap financing works: The equity gap ($592,476) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,900, 5% of purchase price) and a second mortgage for the rest ($542,576 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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