Loan Comparison: 2.84% vs 6.5%
2635 Landsdown, Colorado Springs, CO 80919 · 4bd/3ba · $524,900
List Price
$524,900
Assumable Rate
2.84%
Remaining Balance
$412,721
Equity Gap
$112,179
Loan Type
VAAdjust Your Scenario
$26,245
$26,245$112,179
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.84% + gap loan
$2,365/moAssumed loan: $1,705/mo
Gap financing: $661/mo
$786less per month with the assumable
Your Savings on This Property
2635 Landsdown, Colorado Springs · 2.84% VA vs 6.5% conventional
$786
per month
$9,437
per year
$283,120
over 30 years
$283,120
interest saved
How gap financing works: The equity gap ($112,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,245, 5% of purchase price) and a second mortgage for the rest ($85,934 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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