Loan Comparison: 2.68% vs 6.5%
3120 Brady, Colorado Springs, CO 80909 · 3bd/2ba · $365,000
List Price
$365,000
Assumable Rate
2.68%
Remaining Balance
$259,318
Equity Gap
$126,805
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$126,805
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 2.68% + gap loan
$1,884/moAssumed loan: $1,049/mo
Gap financing: $835/mo
$308less per month with the assumable
Your Savings on This Property
3120 Brady, Colorado Springs · 2.68% VA vs 6.5% conventional
$308
per month
$3,695
per year
$110,862
over 30 years
$131,985
interest saved
How gap financing works: The equity gap ($126,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($108,555 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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