Loan Comparison: 2.99% vs 6.5%
4782 Horse Gulch, Colorado Springs, CO 80924 · 5bd/4ba · $949,900
List Price
$949,900
Assumable Rate
2.99%
Remaining Balance
$631,948
Equity Gap
$317,951
Loan Type
VAAdjust Your Scenario
$47,495
$47,495$317,951
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.99% + gap loan
$4,740/moAssumed loan: $2,661/mo
Gap financing: $2,080/mo
$963less per month with the assumable
Your Savings on This Property
4782 Horse Gulch, Colorado Springs · 2.99% VA vs 6.5% conventional
$963
per month
$11,560
per year
$346,799
over 30 years
$346,798
interest saved
How gap financing works: The equity gap ($317,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,495, 5% of purchase price) and a second mortgage for the rest ($270,456 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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