Loan Comparison: 2.8% vs 6.5%
1617 Kiowa Street, Colorado Springs, CO 80909 · 1bd/1ba · $389,000
List Price
$389,000
Assumable Rate
2.8%
Remaining Balance
$212,362
Equity Gap
$176,638
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$176,638
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 2.8% + gap loan
$1,972/moAssumed loan: $873/mo
Gap financing: $1,099/mo
$364less per month with the assumable
Your Savings on This Property
1617 Kiowa Street, Colorado Springs · 2.8% VA vs 6.5% conventional
$364
per month
$4,370
per year
$131,091
over 30 years
$131,091
interest saved
How gap financing works: The equity gap ($176,638) 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 ($157,188 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 1617 Kiowa Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.