Loan Comparison: 2.74% vs 6.5%
8165 Foxtail Pine, Colorado Springs, CO 80927 · 4bd/3ba · $620,000
List Price
$620,000
Assumable Rate
2.74%
Remaining Balance
$397,085
Equity Gap
$222,915
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$222,915
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.74% + gap loan
$3,095/moAssumed loan: $1,619/mo
Gap financing: $1,476/mo
$628less per month with the assumable
Your Savings on This Property
8165 Foxtail Pine, Colorado Springs · 2.74% VA vs 6.5% conventional
$628
per month
$7,539
per year
$226,173
over 30 years
$226,173
interest saved
How gap financing works: The equity gap ($222,915) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($191,915 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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