Loan Comparison: 2.81% vs 6.5%
3725 Saints, Colorado Springs, CO 80904 · 3bd/3ba · $775,000
List Price
$775,000
Assumable Rate
2.81%
Remaining Balance
$310,100
Equity Gap
$464,900
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$464,900
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.81% + gap loan
$4,553/moAssumed loan: $1,276/mo
Gap financing: $3,277/mo
$101less per month with the assumable
Your Savings on This Property
3725 Saints, Colorado Springs · 2.81% VA vs 6.5% conventional
$101
per month
$1,213
per year
$36,376
over 30 years
$36,376
interest saved
How gap financing works: The equity gap ($464,900) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($426,150 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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