Loan Comparison: 2.89% vs 6.5%
904 Deschutes, Colorado Springs, CO 80921 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.89%
Remaining Balance
$489,358
Equity Gap
$356,642
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$356,642
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.89% + gap loan
$4,536/moAssumed loan: $2,034/mo
Gap financing: $2,502/mo
Your Savings on This Property
904 Deschutes, Colorado Springs · 2.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($356,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($325,392 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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