Loan Comparison: 2.94% vs 6.5%
3910 Rosemere, Colorado Springs, CO 80906 · 3bd/2ba · $410,000
List Price
$410,000
Assumable Rate
2.94%
Remaining Balance
$201,557
Equity Gap
$209,369
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$209,369
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.94% + gap loan
$2,296/moAssumed loan: $843/mo
Gap financing: $1,452/mo
$166less per month with the assumable
Your Savings on This Property
3910 Rosemere, Colorado Springs · 2.94% VA vs 6.5% conventional
$166
per month
$1,997
per year
$59,905
over 30 years
$60,831
interest saved
How gap financing works: The equity gap ($209,369) 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 ($188,869 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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