Loan Comparison: 2.73% vs 6.5%
848 Wahsatch Ridge Point, Colorado Springs, CO 80903 · 3bd/4ba · $420,000
List Price
$420,000
Assumable Rate
2.73%
Remaining Balance
$340,676
Equity Gap
$79,323
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$79,323
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (VA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.73% + gap loan
$1,795/moAssumed loan: $1,387/mo
Gap financing: $408/mo
$727less per month with the assumable
Your Savings on This Property
848 Wahsatch Ridge Point, Colorado Springs · 2.73% VA vs 6.5% conventional
$727
per month
$8,724
per year
$261,711
over 30 years
$261,710
interest saved
How gap financing works: The equity gap ($79,323) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($58,323 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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