Loan Comparison: 2.8% vs 6.5%
4105 London Lane, Colorado Springs, CO 80916 · 3bd/2ba · $375,000
List Price
$375,000
Assumable Rate
2.8%
Remaining Balance
$172,283
Equity Gap
$202,717
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$202,717
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.8% + gap loan
$1,994/moAssumed loan: $708/mo
Gap financing: $1,286/mo
$258less per month with the assumable
Your Savings on This Property
4105 London Lane, Colorado Springs · 2.8% VA vs 6.5% conventional
$258
per month
$3,090
per year
$92,706
over 30 years
$92,706
interest saved
How gap financing works: The equity gap ($202,717) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($183,967 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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