Loan Comparison: 2.7% vs 6.5%
7467 Sun Chaser Heights, Colorado Springs, CO 80922 · 3bd/1ba · $380,000
List Price
$380,000
Assumable Rate
2.7%
Remaining Balance
$290,994
Equity Gap
$89,005
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$89,005
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 2.7% + gap loan
$1,670/moAssumed loan: $1,180/mo
Gap financing: $489/mo
$612less per month with the assumable
Your Savings on This Property
7467 Sun Chaser Heights, Colorado Springs · 2.7% VA vs 6.5% conventional
$612
per month
$7,344
per year
$220,326
over 30 years
$220,325
interest saved
How gap financing works: The equity gap ($89,005) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($70,005 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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