Loan Comparison: 2.94% vs 6.5%
5540 Parapet, Colorado Springs, CO 80918 · 6bd/6ba · $1,740,000
List Price
$1,740,000
Assumable Rate
2.94%
Remaining Balance
$824,384
Equity Gap
$910,154
Loan Type
VAAdjust Your Scenario
$87,000
$87,000$910,154
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$10,448/moAssumable @ 2.94% + gap loan
$9,778/moAssumed loan: $3,449/mo
Gap financing: $6,329/mo
$670less per month with the assumable
Your Savings on This Property
5540 Parapet, Colorado Springs · 2.94% VA vs 6.5% conventional
$670
per month
$8,037
per year
$241,101
over 30 years
$235,639
interest saved
How gap financing works: The equity gap ($910,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($87,000, 5% of purchase price) and a second mortgage for the rest ($823,154 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 5540 Parapet.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.