Loan Comparison: 2.89% vs 6.5%
4967 Wolf Moon, Colorado Springs, CO 80911 · 4bd/3ba · $455,000
List Price
$455,000
Assumable Rate
2.89%
Remaining Balance
$331,134
Equity Gap
$123,865
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$123,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.89% + gap loan
$2,154/moAssumed loan: $1,377/mo
Gap financing: $777/mo
$578less per month with the assumable
Your Savings on This Property
4967 Wolf Moon, Colorado Springs · 2.89% VA vs 6.5% conventional
$578
per month
$6,937
per year
$208,123
over 30 years
$208,122
interest saved
How gap financing works: The equity gap ($123,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($101,115 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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