Loan Comparison: 2.22% vs 6.5%
414 Chamberlin, Colorado Springs, CO 80906 · 4bd/3ba · $599,999
List Price
$599,999
Assumable Rate
2.22%
Remaining Balance
$140,464
Equity Gap
$458,490
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$458,490
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.22% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.22% + gap loan
$3,829/moAssumed loan: $535/mo
Gap financing: $3,295/mo
Your Savings on This Property
414 Chamberlin, Colorado Springs · 2.22% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($458,490) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($428,490 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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