Loan Comparison: 2.9% vs 6.5%
4625 Whimsical Drive, Colorado Springs, CO 80911 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
2.9%
Remaining Balance
$298,414
Equity Gap
$126,586
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$126,586
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.9% + gap loan
$1,979/moAssumed loan: $1,242/mo
Gap financing: $737/mo
$573less per month with the assumable
Your Savings on This Property
4625 Whimsical Drive, Colorado Springs · 2.9% VA vs 6.5% conventional
$573
per month
$6,880
per year
$206,410
over 30 years
$206,410
interest saved
How gap financing works: The equity gap ($126,586) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($105,336 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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