Loan Comparison: 2.98% vs 6.5%
5660 Tuckerman Drive, Colorado Springs, CO 80918 · 5bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.98%
Remaining Balance
$378,155
Equity Gap
$71,844
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$71,844
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.98% + gap loan
$1,935/moAssumed loan: $1,590/mo
Gap financing: $345/mo
$767less per month with the assumable
Your Savings on This Property
5660 Tuckerman Drive, Colorado Springs · 2.98% VA vs 6.5% conventional
$767
per month
$9,202
per year
$276,059
over 30 years
$276,058
interest saved
How gap financing works: The equity gap ($71,844) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($49,344 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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