Loan Comparison: 2.9% vs 6.5%
1828 Parkview, Colorado Springs, CO 80905 · 4bd/3ba · $634,900
List Price
$634,900
Assumable Rate
2.9%
Remaining Balance
$590,047
Equity Gap
$44,853
Loan Type
VAAdjust Your Scenario
$31,745
$31,745$44,853
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,812/moAssumable @ 2.9% + gap loan
$2,557/moAssumed loan: $2,456/mo
Gap financing: $101/mo
$1,256less per month with the assumable
Your Savings on This Property
1828 Parkview, Colorado Springs · 2.9% VA vs 6.5% conventional
$1,256
per month
$15,067
per year
$452,019
over 30 years
$452,019
interest saved
How gap financing works: The equity gap ($44,853) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,745, 5% of purchase price) and a second mortgage for the rest ($13,108 at 8.5%). 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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