Loan Comparison: 2.96% vs 6.5%
10127 Palisade Ridge, Colorado Springs, CO 80920 · 5bd/3ba · $1,035,000
List Price
$1,035,000
Assumable Rate
2.96%
Remaining Balance
$384,531
Equity Gap
$653,005
Loan Type
VAAdjust Your Scenario
$51,750
$51,750$653,005
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,215/moAssumable @ 2.96% + gap loan
$6,236/moAssumed loan: $1,613/mo
Gap financing: $4,623/mo
Your Savings on This Property
10127 Palisade Ridge, Colorado Springs · 2.96% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($653,005) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($51,750, 5% of purchase price) and a second mortgage for the rest ($601,255 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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