Loan Comparison: 2.95% vs 6.5%
4819 Gami Way, Colorado Springs, CO 80911 · 5bd/4ba · $410,000
List Price
$410,000
Assumable Rate
2.95%
Remaining Balance
$283,430
Equity Gap
$126,570
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$126,570
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (VA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.95% + gap loan
$1,929/moAssumed loan: $1,187/mo
Gap financing: $742/mo
$533less per month with the assumable
Your Savings on This Property
4819 Gami Way, Colorado Springs · 2.95% VA vs 6.5% conventional
$533
per month
$6,395
per year
$191,853
over 30 years
$191,853
interest saved
How gap financing works: The equity gap ($126,570) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($106,070 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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