Loan Comparison: 2.77% vs 6.5%
12637 Chianti, Colorado Springs, CO 80921 · 5bd/4ba · $825,000
List Price
$825,000
Assumable Rate
2.77%
Remaining Balance
$344,771
Equity Gap
$478,601
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$478,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 2.77% + gap loan
$4,774/moAssumed loan: $1,411/mo
Gap financing: $3,363/mo
$180less per month with the assumable
Your Savings on This Property
12637 Chianti, Colorado Springs · 2.77% VA vs 6.5% conventional
$180
per month
$2,158
per year
$64,739
over 30 years
$63,111
interest saved
How gap financing works: The equity gap ($478,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($437,351 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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