Loan Comparison: 2.9% vs 6.5%
4585 Gatewood, Colorado Springs, CO 80916 · 3bd/2ba · $345,000
List Price
$345,000
Assumable Rate
2.9%
Remaining Balance
$120,313
Equity Gap
$224,948
Loan Type
VAAdjust Your Scenario
$17,250
$17,250$224,948
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 2.9% + gap loan
$2,098/moAssumed loan: $501/mo
Gap financing: $1,597/mo
Your Savings on This Property
4585 Gatewood, Colorado Springs · 2.9% 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 ($224,948) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($207,698 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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