Loan Comparison: 2.84% vs 6.5%
8675 Vanderwood, Colorado Springs, CO 80908 · 4bd/3ba · $539,900
List Price
$539,900
Assumable Rate
2.84%
Remaining Balance
$432,882
Equity Gap
$106,051
Loan Type
VAAdjust Your Scenario
$26,995
$26,995$106,051
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,242/moAssumable @ 2.84% + gap loan
$2,396/moAssumed loan: $1,788/mo
Gap financing: $608/mo
$846less per month with the assumable
Your Savings on This Property
8675 Vanderwood, Colorado Springs · 2.84% VA vs 6.5% conventional
$846
per month
$10,154
per year
$304,607
over 30 years
$303,640
interest saved
How gap financing works: The equity gap ($106,051) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,995, 5% of purchase price) and a second mortgage for the rest ($79,056 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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