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
$588,778
Equity Gap
$46,122
Loan Type
VAAdjust Your Scenario
$31,745
$31,745$46,122
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,812/moAssumable @ 2.9% + gap loan
$2,561/moAssumed loan: $2,451/mo
Gap financing: $111/mo
$1,251less per month with the assumable
Your Savings on This Property
1828 Parkview, Colorado Springs · 2.9% VA vs 6.5% conventional
$1,251
per month
$15,014
per year
$450,408
over 30 years
$450,408
interest saved
How gap financing works: The equity gap ($46,122) 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 ($14,377 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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