Loan Comparison: 2.87% vs 6.5%
2927 Cabrillo, Colorado Springs, CO 80910 · 3bd/2ba · $392,000
List Price
$392,000
Assumable Rate
2.87%
Remaining Balance
$336,372
Equity Gap
$55,627
Loan Type
VAAdjust Your Scenario
$19,600
$19,600$55,627
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,354/moAssumable @ 2.87% + gap loan
$1,672/moAssumed loan: $1,395/mo
Gap financing: $277/mo
$682less per month with the assumable
Your Savings on This Property
2927 Cabrillo, Colorado Springs · 2.87% VA vs 6.5% conventional
$682
per month
$8,185
per year
$245,564
over 30 years
$245,563
interest saved
How gap financing works: The equity gap ($55,627) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,600, 5% of purchase price) and a second mortgage for the rest ($36,027 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 2927 Cabrillo.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.