Loan Comparison: 2.75% vs 6.5%
2455 Payne, Colorado Springs, CO 80916 · 4bd/2ba · $379,900
List Price
$379,900
Assumable Rate
2.75%
Remaining Balance
$347,497
Equity Gap
$35,900
Loan Type
VAAdjust Your Scenario
$18,995
$18,995$35,900
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 3.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,281/moAssumable @ 2.75% + gap loan
$1,549/moAssumed loan: $1,419/mo
Gap financing: $130/mo
$733less per month with the assumable
Your Savings on This Property
2455 Payne, Colorado Springs · 2.75% VA vs 6.5% conventional
$733
per month
$8,791
per year
$263,720
over 30 years
$267,217
interest saved
How gap financing works: The equity gap ($35,900) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,995, 5% of purchase price) and a second mortgage for the rest ($16,905 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2455 Payne.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.