Loan Comparison: 2.75% vs 6.5%
8367 Colorado Spruce, Colorado Springs, CO 80927 · 3bd/3ba · $449,900
List Price
$449,900
Assumable Rate
2.75%
Remaining Balance
$361,360
Equity Gap
$87,750
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$87,750
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.75% + gap loan
$1,977/moAssumed loan: $1,475/mo
Gap financing: $502/mo
$725less per month with the assumable
Your Savings on This Property
8367 Colorado Spruce, Colorado Springs · 2.75% VA vs 6.5% conventional
$725
per month
$8,694
per year
$260,826
over 30 years
$260,036
interest saved
How gap financing works: The equity gap ($87,750) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($65,255 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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