Loan Comparison: 2.99% vs 6.5%
19840 Glen Shadows, Colorado Springs, CO 80908 · 6bd/5ba · $1,150,000
List Price
$1,150,000
Assumable Rate
2.99%
Remaining Balance
$744,373
Equity Gap
$405,627
Loan Type
VAAdjust Your Scenario
$57,500
$57,500$405,627
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,905/moAssumable @ 2.99% + gap loan
$5,811/moAssumed loan: $3,134/mo
Gap financing: $2,677/mo
$1,094less per month with the assumable
Your Savings on This Property
19840 Glen Shadows, Colorado Springs · 2.99% VA vs 6.5% conventional
$1,094
per month
$13,131
per year
$393,932
over 30 years
$393,932
interest saved
How gap financing works: The equity gap ($405,627) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,500, 5% of purchase price) and a second mortgage for the rest ($348,127 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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