Loan Comparison: 2.69% vs 6.5%
1019 De La Vista, Colorado Springs, CO 80911 · 3bd/2ba · $359,750
List Price
$359,750
Assumable Rate
2.69%
Remaining Balance
$166,619
Equity Gap
$193,131
Loan Type
VAAdjust Your Scenario
$17,988
$17,988$193,131
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.69% (VA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,160/moAssumable @ 2.69% + gap loan
$2,022/moAssumed loan: $675/mo
Gap financing: $1,347/mo
$139less per month with the assumable
Your Savings on This Property
1019 De La Vista, Colorado Springs · 2.69% VA vs 6.5% conventional
$139
per month
$1,663
per year
$49,878
over 30 years
$49,877
interest saved
How gap financing works: The equity gap ($193,131) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,988, 5% of purchase price) and a second mortgage for the rest ($175,143 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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