Loan Comparison: 3.18% vs 6.5%
2295 Pegasus Park, Colorado Springs, CO 80906 · 4bd/4ba · $2,195,000
List Price
$2,195,000
Assumable Rate
3.18%
Remaining Balance
$1,154,631
Equity Gap
$1,040,369
Loan Type
VAAdjust Your Scenario
$109,750
$109,750$1,040,369
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$13,180/moAssumable @ 3.18% + gap loan
$12,136/moAssumed loan: $4,981/mo
Gap financing: $7,156/mo
$1,044less per month with the assumable
Your Savings on This Property
2295 Pegasus Park, Colorado Springs · 3.18% VA vs 6.5% conventional
$1,044
per month
$12,525
per year
$375,757
over 30 years
$375,757
interest saved
How gap financing works: The equity gap ($1,040,369) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($109,750, 5% of purchase price) and a second mortgage for the rest ($930,619 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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