Loan Comparison: 2.72% vs 6.5%
8265 Tannenbaum, Colorado Springs, CO 80908 · 3bd/4ba · $950,000
List Price
$950,000
Assumable Rate
2.72%
Remaining Balance
$321,164
Equity Gap
$628,835
Loan Type
VAAdjust Your Scenario
$47,500
$47,500$628,835
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (VA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.72% + gap loan
$5,776/moAssumed loan: $1,306/mo
Gap financing: $4,470/mo
Your Savings on This Property
8265 Tannenbaum, Colorado Springs · 2.72% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($628,835) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($581,335 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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