Loan Comparison: 2.88% vs 6.5%
235 Haversham, Colorado Springs, CO 80906 · 6bd/4ba · $1,124,999
List Price
$1,124,999
Assumable Rate
2.88%
Remaining Balance
$642,689
Equity Gap
$482,310
Loan Type
VAAdjust Your Scenario
$56,250
$56,250$482,310
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,755/moAssumable @ 2.88% + gap loan
$5,944/moAssumed loan: $2,668/mo
Gap financing: $3,276/mo
$811less per month with the assumable
Your Savings on This Property
235 Haversham, Colorado Springs · 2.88% VA vs 6.5% conventional
$811
per month
$9,732
per year
$291,961
over 30 years
$291,961
interest saved
How gap financing works: The equity gap ($482,310) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($56,250, 5% of purchase price) and a second mortgage for the rest ($426,060 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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