Loan Comparison: 2.83% vs 6.5%
135 Grayson Court, Colorado Springs, CO 80906 · 4bd/4ba · $875,000
List Price
$875,000
Assumable Rate
2.83%
Remaining Balance
$430,040
Equity Gap
$444,960
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$444,960
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.83% + gap loan
$4,579/moAssumed loan: $1,774/mo
Gap financing: $2,805/mo
$675less per month with the assumable
Your Savings on This Property
135 Grayson Court, Colorado Springs · 2.83% VA vs 6.5% conventional
$675
per month
$8,098
per year
$242,953
over 30 years
$242,953
interest saved
How gap financing works: The equity gap ($444,960) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($401,210 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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