Loan Comparison: 2.86% vs 6.5%
7517 Silver Bow, Colorado Springs, CO 80925 · 4bd/2ba · $410,000
List Price
$410,000
Assumable Rate
2.86%
Remaining Balance
$208,467
Equity Gap
$202,694
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$202,694
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.86% + gap loan
$2,264/moAssumed loan: $863/mo
Gap financing: $1,401/mo
$198less per month with the assumable
Your Savings on This Property
7517 Silver Bow, Colorado Springs · 2.86% VA vs 6.5% conventional
$198
per month
$2,373
per year
$71,189
over 30 years
$72,350
interest saved
How gap financing works: The equity gap ($202,694) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($182,194 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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