Loan Comparison: 2.67% vs 6.5%
555 Gilcrest Road, Colorado Springs, CO 80927 · 4bd/3ba · $424,500
List Price
$424,500
Assumable Rate
2.67%
Remaining Balance
$326,666
Equity Gap
$97,834
Loan Type
VAAdjust Your Scenario
$21,225
$21,225$97,834
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.67% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,549/moAssumable @ 2.67% + gap loan
$1,855/moAssumed loan: $1,320/mo
Gap financing: $536/mo
$694less per month with the assumable
Your Savings on This Property
555 Gilcrest Road, Colorado Springs · 2.67% VA vs 6.5% conventional
$694
per month
$8,322
per year
$249,670
over 30 years
$249,670
interest saved
How gap financing works: The equity gap ($97,834) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,225, 5% of purchase price) and a second mortgage for the rest ($76,609 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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