Loan Comparison: 2.9% vs 6.5%
2579 Malpaso, Colorado Springs, CO 80922 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.9%
Remaining Balance
$201,143
Equity Gap
$173,857
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$173,857
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.9% + gap loan
$2,030/moAssumed loan: $837/mo
Gap financing: $1,193/mo
$222less per month with the assumable
Your Savings on This Property
2579 Malpaso, Colorado Springs · 2.9% VA vs 6.5% conventional
$222
per month
$2,663
per year
$79,879
over 30 years
$79,879
interest saved
How gap financing works: The equity gap ($173,857) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($155,107 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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