Loan Comparison: 2.73% vs 6.5%
1955 Ruffino Drive, Colorado Springs, CO 80921 · 5bd/5ba · $699,000
List Price
$699,000
Assumable Rate
2.73%
Remaining Balance
$394,106
Equity Gap
$304,893
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$304,893
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (VA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.73% + gap loan
$3,492/moAssumed loan: $1,605/mo
Gap financing: $1,887/mo
$705less per month with the assumable
Your Savings on This Property
1955 Ruffino Drive, Colorado Springs · 2.73% VA vs 6.5% conventional
$705
per month
$8,460
per year
$253,813
over 30 years
$253,812
interest saved
How gap financing works: The equity gap ($304,893) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($269,943 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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