Loan Comparison: 2.99% vs 6.5%
1011 Cheyenne Boulevard, Colorado Springs, CO 80905 · 3bd/1ba · $799,900
List Price
$799,900
Assumable Rate
2.99%
Remaining Balance
$532,923
Equity Gap
$266,976
Loan Type
VAAdjust Your Scenario
$39,995
$39,995$266,976
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,803/moAssumable @ 2.99% + gap loan
$3,831/moAssumed loan: $2,244/mo
Gap financing: $1,587/mo
$972less per month with the assumable
Your Savings on This Property
1011 Cheyenne Boulevard, Colorado Springs · 2.99% VA vs 6.5% conventional
$972
per month
$11,665
per year
$349,949
over 30 years
$349,948
interest saved
How gap financing works: The equity gap ($266,976) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,995, 5% of purchase price) and a second mortgage for the rest ($226,981 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 1011 Cheyenne Boulevard.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.