Loan Comparison: 2.89% vs 6.5%
11791 Laurelcreek, Colorado Springs, CO 80921 · 4bd/3ba · $640,000
List Price
$640,000
Assumable Rate
2.89%
Remaining Balance
$321,671
Equity Gap
$316,848
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$316,848
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 2.89% + gap loan
$3,527/moAssumed loan: $1,337/mo
Gap financing: $2,190/mo
$316less per month with the assumable
Your Savings on This Property
11791 Laurelcreek, Colorado Springs · 2.89% VA vs 6.5% conventional
$316
per month
$3,787
per year
$113,605
over 30 years
$112,124
interest saved
How gap financing works: The equity gap ($316,848) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($284,848 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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