Loan Comparison: 2.76% vs 6.5%
12644 Highland Oaks, Colorado Springs, CO 80921 · 6bd/5ba · $950,000
List Price
$950,000
Assumable Rate
2.76%
Remaining Balance
$560,864
Equity Gap
$390,389
Loan Type
VAAdjust Your Scenario
$47,500
$47,500$390,389
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.76% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.76% + gap loan
$4,929/moAssumed loan: $2,293/mo
Gap financing: $2,637/mo
$775less per month with the assumable
Your Savings on This Property
12644 Highland Oaks, Colorado Springs · 2.76% VA vs 6.5% conventional
$775
per month
$9,303
per year
$279,088
over 30 years
$280,341
interest saved
How gap financing works: The equity gap ($390,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($342,889 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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