Loan Comparison: 2.74% vs 6.5%
1955 Ruffino, Colorado Springs, CO 80921 · 5bd/4ba · $799,900
List Price
$799,900
Assumable Rate
2.74%
Remaining Balance
$396,973
Equity Gap
$402,002
Loan Type
VAAdjust Your Scenario
$39,995
$39,995$402,002
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,803/moAssumable @ 2.74% + gap loan
$4,402/moAssumed loan: $1,619/mo
Gap financing: $2,784/mo
$401less per month with the assumable
Your Savings on This Property
1955 Ruffino, Colorado Springs · 2.74% VA vs 6.5% conventional
$401
per month
$4,813
per year
$144,393
over 30 years
$143,468
interest saved
How gap financing works: The equity gap ($402,002) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,995, 5% of purchase price) and a second mortgage for the rest ($362,007 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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