Loan Comparison: 2.83% vs 6.5%
4257 Hunting Meadows, Colorado Springs, CO 80916 · 3bd/2ba · $285,000
List Price
$285,000
Assumable Rate
2.83%
Remaining Balance
$181,303
Equity Gap
$103,696
Loan Type
VAAdjust Your Scenario
$14,250
$14,250$103,696
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 2.83% + gap loan
$1,436/moAssumed loan: $748/mo
Gap financing: $688/mo
$276less per month with the assumable
Your Savings on This Property
4257 Hunting Meadows, Colorado Springs · 2.83% VA vs 6.5% conventional
$276
per month
$3,308
per year
$99,253
over 30 years
$99,252
interest saved
How gap financing works: The equity gap ($103,696) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($89,446 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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