Loan Comparison: 2.6% vs 6.5%
365 Eclipse Drive, Colorado Springs, CO 80905 · 4bd/3ba · $635,000
List Price
$635,000
Assumable Rate
2.6%
Remaining Balance
$514,553
Equity Gap
$120,447
Loan Type
VAAdjust Your Scenario
$31,750
$31,750$120,447
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (VA)
Blended Rate: 3.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.6% + gap loan
$2,680/moAssumed loan: $2,060/mo
Gap financing: $620/mo
$1,133less per month with the assumable
Your Savings on This Property
365 Eclipse Drive, Colorado Springs · 2.6% VA vs 6.5% conventional
$1,133
per month
$13,594
per year
$407,811
over 30 years
$407,811
interest saved
How gap financing works: The equity gap ($120,447) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($88,697 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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