Loan Comparison: 2.9% vs 6.5%
8755 Turnbridge, Colorado Springs, CO 80920 · 5bd/4ba · $700,000
List Price
$700,000
Assumable Rate
2.9%
Remaining Balance
$534,459
Equity Gap
$165,540
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$165,540
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.9% + gap loan
$3,228/moAssumed loan: $2,225/mo
Gap financing: $1,004/mo
$975less per month with the assumable
Your Savings on This Property
8755 Turnbridge, Colorado Springs · 2.9% VA vs 6.5% conventional
$975
per month
$11,699
per year
$350,976
over 30 years
$350,975
interest saved
How gap financing works: The equity gap ($165,540) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($130,540 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.
🏠
Back to This Listing
View photos, details, and request a showing for 8755 Turnbridge.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.