Loan Comparison: 2.77% vs 6.5%
9232 Birr, Colorado Springs, CO 80927 · 0bd/0ba · $559,900
List Price
$559,900
Assumable Rate
2.77%
Remaining Balance
$392,189
Equity Gap
$167,711
Loan Type
VAAdjust Your Scenario
$27,995
$27,995$167,711
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,362/moAssumable @ 2.77% + gap loan
$2,680/moAssumed loan: $1,605/mo
Gap financing: $1,074/mo
$682less per month with the assumable
Your Savings on This Property
9232 Birr, Colorado Springs · 2.77% VA vs 6.5% conventional
$682
per month
$8,190
per year
$245,690
over 30 years
$245,690
interest saved
How gap financing works: The equity gap ($167,711) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,995, 5% of purchase price) and a second mortgage for the rest ($139,716 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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