Loan Comparison: 2.81% vs 6.5%
6245 Mount Ouray, Colorado Springs, CO 80924 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
2.81%
Remaining Balance
$442,977
Equity Gap
$131,006
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$131,006
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.81% + gap loan
$2,609/moAssumed loan: $1,823/mo
Gap financing: $786/mo
$844less per month with the assumable
Your Savings on This Property
6245 Mount Ouray, Colorado Springs · 2.81% VA vs 6.5% conventional
$844
per month
$10,127
per year
$303,800
over 30 years
$302,783
interest saved
How gap financing works: The equity gap ($131,006) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($102,256 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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