Loan Comparison: 2.77% vs 6.5%
12637 Chianti, Colorado Springs, CO 80921 · 5bd/4ba · $860,000
List Price
$860,000
Assumable Rate
2.77%
Remaining Balance
$346,399
Equity Gap
$513,601
Loan Type
VAAdjust Your Scenario
$43,000
$43,000$513,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,164/moAssumable @ 2.77% + gap loan
$5,036/moAssumed loan: $1,418/mo
Gap financing: $3,619/mo
$128less per month with the assumable
Your Savings on This Property
12637 Chianti, Colorado Springs · 2.77% VA vs 6.5% conventional
$128
per month
$1,532
per year
$45,960
over 30 years
$45,960
interest saved
How gap financing works: The equity gap ($513,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,000, 5% of purchase price) and a second mortgage for the rest ($470,601 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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