Loan Comparison: 2.79% vs 6.5%
5365 Broadmoor Bluffs Drive, Colorado Springs, CO 80906 · 2bd/1ba · $915,000
List Price
$915,000
Assumable Rate
2.79%
Remaining Balance
$452,120
Equity Gap
$462,880
Loan Type
VAAdjust Your Scenario
$45,750
$45,750$462,880
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,494/moAssumable @ 2.79% + gap loan
$4,772/moAssumed loan: $1,855/mo
Gap financing: $2,917/mo
$722less per month with the assumable
Your Savings on This Property
5365 Broadmoor Bluffs Drive, Colorado Springs · 2.79% VA vs 6.5% conventional
$722
per month
$8,667
per year
$260,022
over 30 years
$260,022
interest saved
How gap financing works: The equity gap ($462,880) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,750, 5% of purchase price) and a second mortgage for the rest ($417,130 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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