Loan Comparison: 2.84% vs 6.5%
2170 Alicia Point, Colorado Springs, CO 80919 · 1bd/1ba · $275,000
List Price
$275,000
Assumable Rate
2.84%
Remaining Balance
$248,565
Equity Gap
$26,434
Loan Type
VAAdjust Your Scenario
$13,750
$13,750$26,434
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 2.84% + gap loan
$1,115/moAssumed loan: $1,027/mo
Gap financing: $89/mo
$536less per month with the assumable
Your Savings on This Property
2170 Alicia Point, Colorado Springs · 2.84% VA vs 6.5% conventional
$536
per month
$6,431
per year
$192,944
over 30 years
$192,943
interest saved
How gap financing works: The equity gap ($26,434) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($12,684 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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