Loan Comparison: 2.98% vs 6.5%
7526 Shallow Brooke, Colorado Springs, CO 80922 · 3bd/3ba · $519,900
List Price
$519,900
Assumable Rate
2.98%
Remaining Balance
$401,713
Equity Gap
$118,186
Loan Type
VAAdjust Your Scenario
$25,995
$25,995$118,186
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.98% + gap loan
$2,398/moAssumed loan: $1,689/mo
Gap financing: $709/mo
$724less per month with the assumable
Your Savings on This Property
7526 Shallow Brooke, Colorado Springs · 2.98% VA vs 6.5% conventional
$724
per month
$8,684
per year
$260,510
over 30 years
$260,509
interest saved
How gap financing works: The equity gap ($118,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($92,191 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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