Loan Comparison: 2.81% vs 6.5%
4838 Hawk Meadow, Colorado Springs, CO 80916 · 3bd/3ba · $399,900
List Price
$399,900
Assumable Rate
2.81%
Remaining Balance
$345,197
Equity Gap
$53,914
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$53,914
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 2.81% + gap loan
$1,681/moAssumed loan: $1,420/mo
Gap financing: $261/mo
$720less per month with the assumable
Your Savings on This Property
4838 Hawk Meadow, Colorado Springs · 2.81% VA vs 6.5% conventional
$720
per month
$8,643
per year
$259,279
over 30 years
$258,490
interest saved
How gap financing works: The equity gap ($53,914) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($33,919 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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