Loan Comparison: 2.9% vs 6.5%
4262 Knollvale Drive, Colorado Springs, CO 80922 · 5bd/5ba · $455,000
List Price
$455,000
Assumable Rate
2.9%
Remaining Balance
$305,990
Equity Gap
$149,009
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$149,009
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.9% + gap loan
$2,156/moAssumed loan: $1,274/mo
Gap financing: $883/mo
$576less per month with the assumable
Your Savings on This Property
4262 Knollvale Drive, Colorado Springs · 2.9% VA vs 6.5% conventional
$576
per month
$6,908
per year
$207,241
over 30 years
$207,240
interest saved
How gap financing works: The equity gap ($149,009) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($126,259 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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