Loan Comparison: 2.5% vs 6.5%
2529 Columbia Street, Colorado Springs, CO 80916 · 3bd/2ba · $429,900
List Price
$429,900
Assumable Rate
2.5%
Remaining Balance
$67,522
Equity Gap
$362,378
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$362,378
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.5% (VA)
Blended Rate: 6.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 2.5% + gap loan
$2,650/moAssumed loan: $267/mo
Gap financing: $2,384/mo
Your Savings on This Property
2529 Columbia Street, Colorado Springs · 2.5% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($362,378) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($340,883 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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