Loan Comparison: 2.9% vs 6.5%
2832 Pony Club, Colorado Springs, CO 80922 · 4bd/3ba · $599,900
List Price
$599,900
Assumable Rate
2.9%
Remaining Balance
$484,575
Equity Gap
$117,441
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$117,441
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 2.9% + gap loan
$2,689/moAssumed loan: $2,017/mo
Gap financing: $672/mo
$913less per month with the assumable
Your Savings on This Property
2832 Pony Club, Colorado Springs · 2.9% VA vs 6.5% conventional
$913
per month
$10,954
per year
$328,628
over 30 years
$330,744
interest saved
How gap financing works: The equity gap ($117,441) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($87,446 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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