Loan Comparison: 2.87% vs 6.5%
7983 Superior Hill, Colorado Springs, CO 80908 · 5bd/4ba · $499,997
List Price
$499,997
Assumable Rate
2.87%
Remaining Balance
$196,845
Equity Gap
$302,276
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$302,276
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.87% + gap loan
$2,948/moAssumed loan: $816/mo
Gap financing: $2,132/mo
$54less per month with the assumable
Your Savings on This Property
7983 Superior Hill, Colorado Springs · 2.87% VA vs 6.5% conventional
$54
per month
$649
per year
$19,484
over 30 years
$18,608
interest saved
How gap financing works: The equity gap ($302,276) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($277,276 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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