Loan Comparison: 2.98% vs 6.5%
4945 Saxton Hollow Road, Colorado Springs, CO 80908 · 6bd/5ba · $2,300,000
List Price
$2,300,000
Assumable Rate
2.98%
Remaining Balance
$1,356,970
Equity Gap
$943,029
Loan Type
VAAdjust Your Scenario
$115,000
$115,000$943,029
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$13,811/moAssumable @ 2.98% + gap loan
$11,496/moAssumed loan: $5,706/mo
Gap financing: $5,790/mo
$2,315less per month with the assumable
Your Savings on This Property
4945 Saxton Hollow Road, Colorado Springs · 2.98% VA vs 6.5% conventional
$2,315
per month
$27,775
per year
$833,247
over 30 years
$833,246
interest saved
How gap financing works: The equity gap ($943,029) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($115,000, 5% of purchase price) and a second mortgage for the rest ($828,029 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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