Loan Comparison: 2.68% vs 6.5%
6365 Shirecliff, Colorado Springs, CO 80918 · 4bd/4ba · $489,500
List Price
$489,500
Assumable Rate
2.68%
Remaining Balance
$308,814
Equity Gap
$179,953
Loan Type
VAAdjust Your Scenario
$24,475
$24,475$179,953
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,939/moAssumable @ 2.68% + gap loan
$2,445/moAssumed loan: $1,249/mo
Gap financing: $1,195/mo
$494less per month with the assumable
Your Savings on This Property
6365 Shirecliff, Colorado Springs · 2.68% VA vs 6.5% conventional
$494
per month
$5,934
per year
$178,019
over 30 years
$177,286
interest saved
How gap financing works: The equity gap ($179,953) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,475, 5% of purchase price) and a second mortgage for the rest ($155,478 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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