Loan Comparison: 2.18% vs 6.5%
1630 Oakmont, Colorado Springs, CO 80921 · 6bd/5ba · $1,000,000
List Price
$1,000,000
Assumable Rate
2.18%
Remaining Balance
$295,687
Equity Gap
$705,027
Loan Type
VAAdjust Your Scenario
$50,000
$50,000$705,027
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.18% (VA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 2.18% + gap loan
$6,156/moAssumed loan: $1,120/mo
Gap financing: $5,037/mo
Your Savings on This Property
1630 Oakmont, Colorado Springs · 2.18% 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 ($705,027) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($655,027 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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