Loan Comparison: 2.67% vs 6.5%
1124 Royale Drive, Colorado Springs, CO 80910 · 3bd/2ba · $359,000
List Price
$359,000
Assumable Rate
2.67%
Remaining Balance
$311,901
Equity Gap
$47,099
Loan Type
VAAdjust Your Scenario
$17,950
$17,950$47,099
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.67% (VA)
Blended Rate: 3.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 2.67% + gap loan
$1,464/moAssumed loan: $1,260/mo
Gap financing: $204/mo
$692less per month with the assumable
Your Savings on This Property
1124 Royale Drive, Colorado Springs · 2.67% VA vs 6.5% conventional
$692
per month
$8,301
per year
$249,020
over 30 years
$249,020
interest saved
How gap financing works: The equity gap ($47,099) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($29,149 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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