Loan Comparison: 2.83% vs 6.5%
8488 Grand Peak Vista, Colorado Springs, CO 80920 · 3bd/3ba · $469,999
List Price
$469,999
Assumable Rate
2.83%
Remaining Balance
$332,837
Equity Gap
$137,162
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$137,162
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.83% + gap loan
$2,247/moAssumed loan: $1,373/mo
Gap financing: $874/mo
$575less per month with the assumable
Your Savings on This Property
8488 Grand Peak Vista, Colorado Springs · 2.83% VA vs 6.5% conventional
$575
per month
$6,904
per year
$207,105
over 30 years
$207,105
interest saved
How gap financing works: The equity gap ($137,162) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($113,662 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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