Loan Comparison: 2.47% vs 6.5%
1960 Bluffside Terrace, Colorado Springs, CO 80919 · 3bd/2ba · $749,900
List Price
$749,900
Assumable Rate
2.47%
Remaining Balance
$70,170
Equity Gap
$679,729
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$679,729
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.47% (VA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 2.47% + gap loan
$4,767/moAssumed loan: $276/mo
Gap financing: $4,491/mo
Your Savings on This Property
1960 Bluffside Terrace, Colorado Springs · 2.47% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($679,729) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($642,234 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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