Loan Comparison: 2.89% vs 6.5%
6286 Kildare, Colorado Springs, CO 80927 · 3bd/3ba · $454,900
List Price
$454,900
Assumable Rate
2.89%
Remaining Balance
$392,033
Equity Gap
$119,867
Loan Type
VAAdjust Your Scenario
$22,745
$22,745$119,867
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.89% + gap loan
$2,376/moAssumed loan: $1,630/mo
Gap financing: $747/mo
$355less per month with the assumable
Your Savings on This Property
6286 Kildare, Colorado Springs · 2.89% VA vs 6.5% conventional
$355
per month
$4,261
per year
$127,825
over 30 years
$184,825
interest saved
How gap financing works: The equity gap ($119,867) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,745, 5% of purchase price) and a second mortgage for the rest ($97,122 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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