Loan Comparison: 2.9% vs 6.5%
8685 Boxelder, Colorado Springs, CO 80920 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.9%
Remaining Balance
$207,598
Equity Gap
$241,947
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$241,947
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.9% + gap loan
$2,551/moAssumed loan: $864/mo
Gap financing: $1,687/mo
$151less per month with the assumable
Your Savings on This Property
8685 Boxelder, Colorado Springs · 2.9% VA vs 6.5% conventional
$151
per month
$1,808
per year
$54,233
over 30 years
$53,778
interest saved
How gap financing works: The equity gap ($241,947) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($219,447 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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