Loan Comparison: 2.93% vs 6.5%
6461 Vickie Lane, Colorado Springs, CO 80909 · 4bd/1ba · $568,400
List Price
$568,400
Assumable Rate
2.93%
Remaining Balance
$400,152
Equity Gap
$168,248
Loan Type
VAAdjust Your Scenario
$28,420
$28,420$168,248
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.93% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,413/moAssumable @ 2.93% + gap loan
$2,650/moAssumed loan: $1,672/mo
Gap financing: $978/mo
$763less per month with the assumable
Your Savings on This Property
6461 Vickie Lane, Colorado Springs · 2.93% VA vs 6.5% conventional
$763
per month
$9,160
per year
$274,808
over 30 years
$274,808
interest saved
How gap financing works: The equity gap ($168,248) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,420, 5% of purchase price) and a second mortgage for the rest ($139,828 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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