Loan Comparison: 2.8% vs 6.5%
17512 Pond View Place, Colorado Springs, CO 80908 · 6bd/4ba · $1,595,000
List Price
$1,595,000
Assumable Rate
2.8%
Remaining Balance
$691,187
Equity Gap
$903,812
Loan Type
VAAdjust Your Scenario
$79,750
$79,750$903,812
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,577/moAssumable @ 2.8% + gap loan
$8,602/moAssumed loan: $2,840/mo
Gap financing: $5,762/mo
$975less per month with the assumable
Your Savings on This Property
17512 Pond View Place, Colorado Springs · 2.8% VA vs 6.5% conventional
$975
per month
$11,705
per year
$351,144
over 30 years
$351,143
interest saved
How gap financing works: The equity gap ($903,812) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($79,750, 5% of purchase price) and a second mortgage for the rest ($824,062 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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