Loan Comparison: 2.83% vs 6.5%
463 Mountain Pass, Colorado Springs, CO 80906 · 4bd/4ba · $999,000
List Price
$999,000
Assumable Rate
2.83%
Remaining Balance
$648,539
Equity Gap
$346,035
Loan Type
VAAdjust Your Scenario
$49,950
$49,950$346,035
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,999/moAssumable @ 2.83% + gap loan
$4,952/moAssumed loan: $2,675/mo
Gap financing: $2,277/mo
$1,047less per month with the assumable
Your Savings on This Property
463 Mountain Pass, Colorado Springs · 2.83% VA vs 6.5% conventional
$1,047
per month
$12,562
per year
$376,862
over 30 years
$372,436
interest saved
How gap financing works: The equity gap ($346,035) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,950, 5% of purchase price) and a second mortgage for the rest ($296,085 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.
🏠
Back to This Listing
View photos, details, and request a showing for 463 Mountain Pass.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.