Loan Comparison: 2.94% vs 6.5%
254 Raven Mine, Colorado Springs, CO 80905 · 5bd/4ba · $654,000
List Price
$654,000
Assumable Rate
2.94%
Remaining Balance
$372,228
Equity Gap
$282,629
Loan Type
VAAdjust Your Scenario
$32,700
$32,700$282,629
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,927/moAssumable @ 2.94% + gap loan
$3,479/moAssumed loan: $1,557/mo
Gap financing: $1,922/mo
$448less per month with the assumable
Your Savings on This Property
254 Raven Mine, Colorado Springs · 2.94% VA vs 6.5% conventional
$448
per month
$5,376
per year
$161,277
over 30 years
$162,134
interest saved
How gap financing works: The equity gap ($282,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,700, 5% of purchase price) and a second mortgage for the rest ($249,929 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.
🏠
Back to This Listing
View photos, details, and request a showing for 254 Raven Mine.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.