Loan Comparison: 2.98% vs 6.5%
3014 Loot Drive, Colorado Springs, CO 80939 · 2bd/2ba · $449,900
List Price
$449,900
Assumable Rate
2.98%
Remaining Balance
$353,405
Equity Gap
$96,495
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$96,495
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.98% + gap loan
$2,004/moAssumed loan: $1,486/mo
Gap financing: $517/mo
$698less per month with the assumable
Your Savings on This Property
3014 Loot Drive, Colorado Springs · 2.98% VA vs 6.5% conventional
$698
per month
$8,375
per year
$251,248
over 30 years
$251,248
interest saved
How gap financing works: The equity gap ($96,495) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($74,000 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 3014 Loot Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.