Loan Comparison: 2.9% vs 6.5%
6484 Lazy Stream, Colorado Springs, CO 80923 · 4bd/4ba · $519,900
List Price
$519,900
Assumable Rate
2.9%
Remaining Balance
$445,535
Equity Gap
$75,336
Loan Type
VAAdjust Your Scenario
$25,995
$25,995$75,336
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.9% + gap loan
$2,234/moAssumed loan: $1,854/mo
Gap financing: $379/mo
$888less per month with the assumable
Your Savings on This Property
6484 Lazy Stream, Colorado Springs · 2.9% VA vs 6.5% conventional
$888
per month
$10,656
per year
$319,671
over 30 years
$320,642
interest saved
How gap financing works: The equity gap ($75,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($49,341 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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