Loan Comparison: 2.68% vs 6.5%
6208 Ashmore, Colorado Springs, CO 80927 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
2.68%
Remaining Balance
$364,088
Equity Gap
$220,912
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$220,912
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.68% + gap loan
$2,947/moAssumed loan: $1,473/mo
Gap financing: $1,474/mo
$566less per month with the assumable
Your Savings on This Property
6208 Ashmore, Colorado Springs · 2.68% VA vs 6.5% conventional
$566
per month
$6,793
per year
$203,800
over 30 years
$203,800
interest saved
How gap financing works: The equity gap ($220,912) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($191,662 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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