Loan Comparison: 2.68% vs 6.5%
8361 Colorado Spruce, Colorado Springs, CO 80927 · 5bd/4ba · $555,000
List Price
$555,000
Assumable Rate
2.68%
Remaining Balance
$418,442
Equity Gap
$133,601
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$133,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 2.68% + gap loan
$2,507/moAssumed loan: $1,693/mo
Gap financing: $814/mo
$826less per month with the assumable
Your Savings on This Property
8361 Colorado Spruce, Colorado Springs · 2.68% VA vs 6.5% conventional
$826
per month
$9,911
per year
$297,323
over 30 years
$294,366
interest saved
How gap financing works: The equity gap ($133,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($105,851 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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