Loan Comparison: 2.75% vs 6.5%
2955 Rhapsody Drive, Colorado Springs, CO 80909 · 3bd/2ba · $520,000
List Price
$520,000
Assumable Rate
2.75%
Remaining Balance
$337,475
Equity Gap
$182,524
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$182,524
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.75% + gap loan
$2,472/moAssumed loan: $1,378/mo
Gap financing: $1,094/mo
$650less per month with the assumable
Your Savings on This Property
2955 Rhapsody Drive, Colorado Springs · 2.75% VA vs 6.5% conventional
$650
per month
$7,803
per year
$234,096
over 30 years
$234,095
interest saved
How gap financing works: The equity gap ($182,524) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($156,524 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2955 Rhapsody Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.