Loan Comparison: 2.74% vs 6.5%
1426 Fetterman, Colorado Springs, CO 80915 · 4bd/3ba · $420,000
List Price
$420,000
Assumable Rate
2.74%
Remaining Balance
$352,010
Equity Gap
$68,805
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$68,805
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.74% + gap loan
$1,803/moAssumed loan: $1,435/mo
Gap financing: $368/mo
$719less per month with the assumable
Your Savings on This Property
1426 Fetterman, Colorado Springs · 2.74% VA vs 6.5% conventional
$719
per month
$8,630
per year
$258,907
over 30 years
$259,722
interest saved
How gap financing works: The equity gap ($68,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($47,805 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1426 Fetterman.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.