Loan Comparison: 2.96% vs 6.5%
8764 Vaunt, Colorado Springs, CO 80924 · 3bd/3ba · $474,900
List Price
$474,900
Assumable Rate
2.96%
Remaining Balance
$298,587
Equity Gap
$177,630
Loan Type
VAAdjust Your Scenario
$23,745
$23,745$177,630
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.96% + gap loan
$2,436/moAssumed loan: $1,252/mo
Gap financing: $1,183/mo
$416less per month with the assumable
Your Savings on This Property
8764 Vaunt, Colorado Springs · 2.96% VA vs 6.5% conventional
$416
per month
$4,991
per year
$149,739
over 30 years
$151,056
interest saved
How gap financing works: The equity gap ($177,630) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,745, 5% of purchase price) and a second mortgage for the rest ($153,885 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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