Loan Comparison: 2.99% vs 6.5%
10916 Silver Mountain, Colorado Springs, CO 80908 · 4bd/4ba · $999,999
List Price
$999,999
Assumable Rate
2.99%
Remaining Balance
$778,527
Equity Gap
$218,038
Loan Type
VAAdjust Your Scenario
$50,000
$50,000$218,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 2.99% + gap loan
$4,570/moAssumed loan: $3,278/mo
Gap financing: $1,292/mo
$1,434less per month with the assumable
Your Savings on This Property
10916 Silver Mountain, Colorado Springs · 2.99% VA vs 6.5% conventional
$1,434
per month
$17,214
per year
$516,409
over 30 years
$512,975
interest saved
How gap financing works: The equity gap ($218,038) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($168,038 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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