Loan Comparison: 2.39% vs 6.5%
7264 Jagged Rock, Colorado Springs, CO 80927 · 3bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.39%
Remaining Balance
$323,778
Equity Gap
$326,221
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$326,221
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.39% + gap loan
$3,519/moAssumed loan: $1,261/mo
Gap financing: $2,258/mo
$384less per month with the assumable
Your Savings on This Property
7264 Jagged Rock, Colorado Springs · 2.39% VA vs 6.5% conventional
$384
per month
$4,604
per year
$138,127
over 30 years
$138,126
interest saved
How gap financing works: The equity gap ($326,221) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($293,721 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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