Loan Comparison: 2.87% vs 6.5%
7185 Aspen Brush, Colorado Springs, CO 80908 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.87%
Remaining Balance
$430,557
Equity Gap
$94,443
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$94,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.87% + gap loan
$2,310/moAssumed loan: $1,785/mo
Gap financing: $524/mo
$843less per month with the assumable
Your Savings on This Property
7185 Aspen Brush, Colorado Springs · 2.87% VA vs 6.5% conventional
$843
per month
$10,115
per year
$303,443
over 30 years
$303,443
interest saved
How gap financing works: The equity gap ($94,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($68,193 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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