Loan Comparison: 2.68% vs 6.5%
6677 Maple Stone, Colorado Springs, CO 80927 · 4bd/3ba · $494,000
List Price
$494,000
Assumable Rate
2.68%
Remaining Balance
$390,049
Equity Gap
$103,951
Loan Type
VAAdjust Your Scenario
$24,700
$24,700$103,951
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,966/moAssumable @ 2.68% + gap loan
$2,187/moAssumed loan: $1,578/mo
Gap financing: $609/mo
$779less per month with the assumable
Your Savings on This Property
6677 Maple Stone, Colorado Springs · 2.68% VA vs 6.5% conventional
$779
per month
$9,348
per year
$280,443
over 30 years
$280,443
interest saved
How gap financing works: The equity gap ($103,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,700, 5% of purchase price) and a second mortgage for the rest ($79,251 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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