Loan Comparison: 2.89% vs 6.5%
14143 Albatross, Colorado Springs, CO 80921 · 4bd/4ba · $549,900
List Price
$549,900
Assumable Rate
2.89%
Remaining Balance
$278,837
Equity Gap
$270,415
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$270,415
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.89% + gap loan
$3,027/moAssumed loan: $1,159/mo
Gap financing: $1,868/mo
$275less per month with the assumable
Your Savings on This Property
14143 Albatross, Colorado Springs · 2.89% VA vs 6.5% conventional
$275
per month
$3,300
per year
$99,000
over 30 years
$98,352
interest saved
How gap financing works: The equity gap ($270,415) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($242,920 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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