Loan Comparison: 2.75% vs 6.5%
15545 Pole Pine Point, Colorado Springs, CO 80908 · 4bd/3ba · $1,295,000
List Price
$1,295,000
Assumable Rate
2.75%
Remaining Balance
$840,155
Equity Gap
$454,844
Loan Type
VAAdjust Your Scenario
$64,750
$64,750$454,844
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,776/moAssumable @ 2.75% + gap loan
$6,157/moAssumed loan: $3,430/mo
Gap financing: $2,728/mo
$1,619less per month with the assumable
Your Savings on This Property
15545 Pole Pine Point, Colorado Springs · 2.75% VA vs 6.5% conventional
$1,619
per month
$19,423
per year
$582,683
over 30 years
$582,682
interest saved
How gap financing works: The equity gap ($454,844) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($64,750, 5% of purchase price) and a second mortgage for the rest ($390,094 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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