Loan Comparison: 2.73% vs 6.5%
5916 Dancing Sun Way, Colorado Springs, CO 80911 · 3bd/3ba · $419,900
List Price
$419,900
Assumable Rate
2.73%
Remaining Balance
$226,412
Equity Gap
$193,487
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$193,487
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 2.73% + gap loan
$2,128/moAssumed loan: $922/mo
Gap financing: $1,206/mo
$393less per month with the assumable
Your Savings on This Property
5916 Dancing Sun Way, Colorado Springs · 2.73% VA vs 6.5% conventional
$393
per month
$4,720
per year
$141,607
over 30 years
$141,606
interest saved
How gap financing works: The equity gap ($193,487) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($172,492 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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