Loan Comparison: 2.8% vs 6.5%
2170 Alicia Point, Colorado Springs, CO 80905 · 1bd/1ba · $270,000
List Price
$270,000
Assumable Rate
2.8%
Remaining Balance
$248,390
Equity Gap
$21,610
Loan Type
VAAdjust Your Scenario
$13,500
$13,500$21,610
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 2.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 2.8% + gap loan
$1,077/moAssumed loan: $1,021/mo
Gap financing: $57/mo
$544less per month with the assumable
Your Savings on This Property
2170 Alicia Point, Colorado Springs · 2.8% VA vs 6.5% conventional
$544
per month
$6,527
per year
$195,814
over 30 years
$195,814
interest saved
How gap financing works: The equity gap ($21,610) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($8,110 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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