Loan Comparison: 2.98% vs 6.5%
8162 Postrock Drive, Colorado Springs, CO 80951 · 4bd/3ba · $440,000
List Price
$440,000
Assumable Rate
2.98%
Remaining Balance
$390,495
Equity Gap
$49,504
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$49,504
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.98% + gap loan
$1,834/moAssumed loan: $1,642/mo
Gap financing: $192/mo
$808less per month with the assumable
Your Savings on This Property
8162 Postrock Drive, Colorado Springs · 2.98% VA vs 6.5% conventional
$808
per month
$9,691
per year
$290,736
over 30 years
$290,735
interest saved
How gap financing works: The equity gap ($49,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($27,504 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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