Loan Comparison: 2.652% vs 6.5%
2927 Cabrillo, Colorado Springs, CO 80910 · 3bd/2ba · $392,000
List Price
$392,000
Assumable Rate
2.652%
Remaining Balance
$335,117
Equity Gap
$54,132
Loan Type
VAAdjust Your Scenario
$19,600
$19,600$54,132
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.652% (VA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,354/moAssumable @ 2.652% + gap loan
$1,616/moAssumed loan: $1,351/mo
Gap financing: $266/mo
$738less per month with the assumable
Your Savings on This Property
2927 Cabrillo, Colorado Springs · 2.652% VA vs 6.5% conventional
$738
per month
$8,851
per year
$265,517
over 30 years
$262,766
interest saved
How gap financing works: The equity gap ($54,132) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,600, 5% of purchase price) and a second mortgage for the rest ($34,532 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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