Loan Comparison: 2.68% vs 6.5%
2515 Plymouth, Colorado Springs, CO 80916 · 4bd/3ba · $365,000
List Price
$365,000
Assumable Rate
2.68%
Remaining Balance
$252,903
Equity Gap
$112,690
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$112,690
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 2.68% + gap loan
$1,749/moAssumed loan: $1,023/mo
Gap financing: $726/mo
$442less per month with the assumable
Your Savings on This Property
2515 Plymouth, Colorado Springs · 2.68% VA vs 6.5% conventional
$442
per month
$5,309
per year
$159,276
over 30 years
$159,869
interest saved
How gap financing works: The equity gap ($112,690) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($94,440 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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