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
$326,993
Equity Gap
$325,415
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$325,415
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.39% + gap loan
$3,526/moAssumed loan: $1,273/mo
Gap financing: $2,252/mo
$377less per month with the assumable
Your Savings on This Property
7264 Jagged Rock, Colorado Springs · 2.39% VA vs 6.5% conventional
$377
per month
$4,528
per year
$135,851
over 30 years
$138,259
interest saved
How gap financing works: The equity gap ($325,415) 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 ($292,915 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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