Loan Comparison: 2.9% vs 6.5%
2401 Ellingwood Drive, Colorado Springs, CO 80910 · 3bd/3ba · $429,000
List Price
$429,000
Assumable Rate
2.9%
Remaining Balance
$380,427
Equity Gap
$48,572
Loan Type
VAAdjust Your Scenario
$21,450
$21,450$48,572
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,576/moAssumable @ 2.9% + gap loan
$1,773/moAssumed loan: $1,583/mo
Gap financing: $190/mo
$803less per month with the assumable
Your Savings on This Property
2401 Ellingwood Drive, Colorado Springs · 2.9% VA vs 6.5% conventional
$803
per month
$9,635
per year
$289,044
over 30 years
$289,043
interest saved
How gap financing works: The equity gap ($48,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,450, 5% of purchase price) and a second mortgage for the rest ($27,122 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 2401 Ellingwood Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.