Loan Comparison: 2.86% vs 6.5%
7517 Silver Bow, Colorado Springs, CO 80925 · 4bd/2ba · $399,999
List Price
$399,999
Assumable Rate
2.86%
Remaining Balance
$207,305
Equity Gap
$192,693
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$192,693
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.86% + gap loan
$2,186/moAssumed loan: $858/mo
Gap financing: $1,328/mo
$216less per month with the assumable
Your Savings on This Property
7517 Silver Bow, Colorado Springs · 2.86% VA vs 6.5% conventional
$216
per month
$2,587
per year
$77,602
over 30 years
$77,601
interest saved
How gap financing works: The equity gap ($192,693) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($172,693 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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