Loan Comparison: 2.83% vs 6.5%
6815 Montarbor Drive, Colorado Springs, CO 80918 · 2bd/1ba · $434,977
List Price
$434,977
Assumable Rate
2.83%
Remaining Balance
$301,627
Equity Gap
$133,349
Loan Type
VAAdjust Your Scenario
$21,749
$21,749$133,349
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.83% + gap loan
$2,025/moAssumed loan: $1,244/mo
Gap financing: $780/mo
$587less per month with the assumable
Your Savings on This Property
6815 Montarbor Drive, Colorado Springs · 2.83% VA vs 6.5% conventional
$587
per month
$7,049
per year
$211,455
over 30 years
$211,454
interest saved
How gap financing works: The equity gap ($133,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,749, 5% of purchase price) and a second mortgage for the rest ($111,600 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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