Loan Comparison: 2.99% vs 6.5%
19840 Glen Shadows, Colorado Springs, CO 80908 · 6bd/5ba · $1,115,000
List Price
$1,115,000
Assumable Rate
2.99%
Remaining Balance
$741,088
Equity Gap
$373,911
Loan Type
VAAdjust Your Scenario
$55,750
$55,750$373,911
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,695/moAssumable @ 2.99% + gap loan
$5,567/moAssumed loan: $3,120/mo
Gap financing: $2,446/mo
$1,128less per month with the assumable
Your Savings on This Property
19840 Glen Shadows, Colorado Springs · 2.99% VA vs 6.5% conventional
$1,128
per month
$13,540
per year
$406,201
over 30 years
$406,200
interest saved
How gap financing works: The equity gap ($373,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,750, 5% of purchase price) and a second mortgage for the rest ($318,161 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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