Loan Comparison: 2.74% vs 6.5%
1955 Ruffino, Colorado Springs, CO 80921 · 5bd/4ba · $824,900
List Price
$824,900
Assumable Rate
2.74%
Remaining Balance
$397,898
Equity Gap
$427,002
Loan Type
VAAdjust Your Scenario
$41,245
$41,245$427,002
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,953/moAssumable @ 2.74% + gap loan
$4,588/moAssumed loan: $1,622/mo
Gap financing: $2,966/mo
$365less per month with the assumable
Your Savings on This Property
1955 Ruffino, Colorado Springs · 2.74% VA vs 6.5% conventional
$365
per month
$4,378
per year
$131,335
over 30 years
$131,335
interest saved
How gap financing works: The equity gap ($427,002) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,245, 5% of purchase price) and a second mortgage for the rest ($385,757 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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