Loan Comparison: 2.85% vs 6.5%
7585 Juniper, Colorado Springs, CO 80908 · 5bd/4ba · $1,400,000
List Price
$1,400,000
Assumable Rate
2.85%
Remaining Balance
$749,004
Equity Gap
$902,122
Loan Type
VAAdjust Your Scenario
$70,000
$70,000$902,122
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,407/moAssumable @ 2.85% + gap loan
$9,496/moAssumed loan: $3,098/mo
Gap financing: $6,398/mo
Your Savings on This Property
7585 Juniper, Colorado Springs · 2.85% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($902,122) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($70,000, 5% of purchase price) and a second mortgage for the rest ($832,122 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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