Loan Comparison: 2.8% vs 6.5%
1272 Dream Lake Court, Colorado Springs, CO 80921 · 5bd/3ba · $630,000
List Price
$630,000
Assumable Rate
2.8%
Remaining Balance
$296,934
Equity Gap
$333,065
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$333,065
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 2.8% + gap loan
$3,329/moAssumed loan: $1,220/mo
Gap financing: $2,109/mo
$454less per month with the assumable
Your Savings on This Property
1272 Dream Lake Court, Colorado Springs · 2.8% VA vs 6.5% conventional
$454
per month
$5,451
per year
$163,532
over 30 years
$163,531
interest saved
How gap financing works: The equity gap ($333,065) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($301,565 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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