Loan Comparison: 2.89% vs 6.5%
5194 Eldorado Canyon, Colorado Springs, CO 80924 · 4bd/3ba · $749,000
List Price
$749,000
Assumable Rate
2.89%
Remaining Balance
$256,706
Equity Gap
$492,294
Loan Type
VAAdjust Your Scenario
$37,450
$37,450$492,294
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 6.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,497/moAssumable @ 2.89% + gap loan
$4,564/moAssumed loan: $1,067/mo
Gap financing: $3,497/mo
Your Savings on This Property
5194 Eldorado Canyon, Colorado Springs · 2.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($492,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,450, 5% of purchase price) and a second mortgage for the rest ($454,844 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 5194 Eldorado Canyon.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.