Loan Comparison: 2.77% vs 6.5%
7472 Candelabra, Colorado Springs, CO 80925 · 5bd/3ba · $440,000
List Price
$440,000
Assumable Rate
2.77%
Remaining Balance
$353,457
Equity Gap
$85,711
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$85,711
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.77% + gap loan
$1,937/moAssumed loan: $1,447/mo
Gap financing: $490/mo
$705less per month with the assumable
Your Savings on This Property
7472 Candelabra, Colorado Springs · 2.77% VA vs 6.5% conventional
$705
per month
$8,465
per year
$253,965
over 30 years
$253,133
interest saved
How gap financing works: The equity gap ($85,711) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($63,711 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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