Loan Comparison: 2.83% vs 6.5%
535 Rock Creek Mesa, Colorado Springs, CO 80926 · 3bd/3ba · $795,000
List Price
$795,000
Assumable Rate
2.83%
Remaining Balance
$411,352
Equity Gap
$384,596
Loan Type
VAAdjust Your Scenario
$39,750
$39,750$384,596
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 2.83% + gap loan
$4,348/moAssumed loan: $1,697/mo
Gap financing: $2,652/mo
$425less per month with the assumable
Your Savings on This Property
535 Rock Creek Mesa, Colorado Springs · 2.83% VA vs 6.5% conventional
$425
per month
$5,104
per year
$153,121
over 30 years
$154,069
interest saved
How gap financing works: The equity gap ($384,596) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($344,846 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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