Loan Comparison: 2.77% vs 6.5%
12637 Chianti Court, Colorado Springs, CO 80921 · 3bd/2ba · $825,000
List Price
$825,000
Assumable Rate
2.77%
Remaining Balance
$343,135
Equity Gap
$481,864
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$481,864
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 2.77% + gap loan
$4,485/moAssumed loan: $1,404/mo
Gap financing: $3,081/mo
$469less per month with the assumable
Your Savings on This Property
12637 Chianti Court, Colorado Springs · 2.77% VA vs 6.5% conventional
$469
per month
$5,622
per year
$168,674
over 30 years
$168,673
interest saved
How gap financing works: The equity gap ($481,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($440,614 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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