Loan Comparison: 2.75% vs 6.5%
3417 Plantation, Colorado Springs, CO 80920 · 4bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.75%
Remaining Balance
$361,755
Equity Gap
$99,938
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$99,938
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.75% + gap loan
$2,068/moAssumed loan: $1,477/mo
Gap financing: $592/mo
$694less per month with the assumable
Your Savings on This Property
3417 Plantation, Colorado Springs · 2.75% VA vs 6.5% conventional
$694
per month
$8,325
per year
$249,738
over 30 years
$251,431
interest saved
How gap financing works: The equity gap ($99,938) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($76,938 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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