Loan Comparison: 2.86% vs 6.5%
720 Scorpio Circle, Colorado Springs, CO 80906 · 3bd/2ba · $1,100,000
List Price
$1,100,000
Assumable Rate
2.86%
Remaining Balance
$665,417
Equity Gap
$434,582
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$434,582
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 2.86% + gap loan
$5,410/moAssumed loan: $2,755/mo
Gap financing: $2,654/mo
$1,196less per month with the assumable
Your Savings on This Property
720 Scorpio Circle, Colorado Springs · 2.86% VA vs 6.5% conventional
$1,196
per month
$14,347
per year
$430,411
over 30 years
$430,410
interest saved
How gap financing works: The equity gap ($434,582) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($379,582 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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