Loan Comparison: 2.9% vs 6.5%
10781 Deer Meadow, Colorado Springs, CO 80925 · 6bd/4ba · $469,900
List Price
$469,900
Assumable Rate
2.9%
Remaining Balance
$405,583
Equity Gap
$64,317
Loan Type
VAAdjust Your Scenario
$23,495
$23,495$64,317
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.9% + gap loan
$2,002/moAssumed loan: $1,688/mo
Gap financing: $314/mo
$820less per month with the assumable
Your Savings on This Property
10781 Deer Meadow, Colorado Springs · 2.9% VA vs 6.5% conventional
$820
per month
$9,834
per year
$295,034
over 30 years
$295,034
interest saved
How gap financing works: The equity gap ($64,317) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($40,822 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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