Loan Comparison: 2.83% vs 6.5%
2750 Larzac, Colorado Springs, CO 80939 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
2.83%
Remaining Balance
$398,674
Equity Gap
$130,326
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$130,326
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.83% + gap loan
$2,464/moAssumed loan: $1,644/mo
Gap financing: $819/mo
$388less per month with the assumable
Your Savings on This Property
2750 Larzac, Colorado Springs · 2.83% VA vs 6.5% conventional
$388
per month
$4,659
per year
$139,765
over 30 years
$193,765
interest saved
How gap financing works: The equity gap ($130,326) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($106,576 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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