Loan Comparison: 2.77% vs 6.5%
1078 Kelso, Colorado Springs, CO 80921 · 5bd/4ba · $890,000
List Price
$890,000
Assumable Rate
2.77%
Remaining Balance
$472,862
Equity Gap
$417,138
Loan Type
VAAdjust Your Scenario
$44,500
$44,500$417,138
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,344/moAssumable @ 2.77% + gap loan
$4,801/moAssumed loan: $1,935/mo
Gap financing: $2,865/mo
$543less per month with the assumable
Your Savings on This Property
1078 Kelso, Colorado Springs · 2.77% VA vs 6.5% conventional
$543
per month
$6,521
per year
$195,639
over 30 years
$195,639
interest saved
How gap financing works: The equity gap ($417,138) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,500, 5% of purchase price) and a second mortgage for the rest ($372,638 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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