Loan Comparison: 3.72% vs 6.5%
2177 Gilpin Avenue, Colorado Springs, CO 80910 · 4bd/2ba · $315,000
List Price
$315,000
Assumable Rate
3.72%
Remaining Balance
$202,583
Equity Gap
$112,416
Loan Type
VAAdjust Your Scenario
$15,750
$15,750$112,416
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.72% + gap loan
$1,611/moAssumed loan: $935/mo
Gap financing: $676/mo
$281less per month with the assumable
Your Savings on This Property
2177 Gilpin Avenue, Colorado Springs · 3.72% VA vs 6.5% conventional
$281
per month
$3,370
per year
$101,093
over 30 years
$101,092
interest saved
How gap financing works: The equity gap ($112,416) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($96,666 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2177 Gilpin Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.