Loan Comparison: 2.78% vs 6.5%
5216 Arroyo Street, Colorado Springs, CO 80922 · 4bd/4ba · $527,400
List Price
$527,400
Assumable Rate
2.78%
Remaining Balance
$421,640
Equity Gap
$105,760
Loan Type
VAAdjust Your Scenario
$26,370
$26,370$105,760
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,167/moAssumable @ 2.78% + gap loan
$2,283/moAssumed loan: $1,728/mo
Gap financing: $555/mo
$884less per month with the assumable
Your Savings on This Property
5216 Arroyo Street, Colorado Springs · 2.78% VA vs 6.5% conventional
$884
per month
$10,605
per year
$318,142
over 30 years
$318,142
interest saved
How gap financing works: The equity gap ($105,760) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,370, 5% of purchase price) and a second mortgage for the rest ($79,390 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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