Loan Comparison: 2.74% vs 6.5%
6340 Marilee, Colorado Springs, CO 80911 · 3bd/3ba · $439,900
List Price
$439,900
Assumable Rate
2.74%
Remaining Balance
$348,488
Equity Gap
$91,411
Loan Type
VAAdjust Your Scenario
$21,995
$21,995$91,411
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,641/moAssumable @ 2.74% + gap loan
$1,955/moAssumed loan: $1,421/mo
Gap financing: $534/mo
$687less per month with the assumable
Your Savings on This Property
6340 Marilee, Colorado Springs · 2.74% VA vs 6.5% conventional
$687
per month
$8,242
per year
$247,273
over 30 years
$247,272
interest saved
How gap financing works: The equity gap ($91,411) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,995, 5% of purchase price) and a second mortgage for the rest ($69,416 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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