Loan Comparison: 2.68% vs 6.5%
6137 Cumbre Vista, Colorado Springs, CO 80924 · 4bd/3ba · $595,000
List Price
$595,000
Assumable Rate
2.68%
Remaining Balance
$249,044
Equity Gap
$345,956
Loan Type
VAAdjust Your Scenario
$29,750
$29,750$345,956
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 2.68% + gap loan
$3,439/moAssumed loan: $1,007/mo
Gap financing: $2,431/mo
$134less per month with the assumable
Your Savings on This Property
6137 Cumbre Vista, Colorado Springs · 2.68% VA vs 6.5% conventional
$134
per month
$1,607
per year
$48,213
over 30 years
$48,213
interest saved
How gap financing works: The equity gap ($345,956) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($316,206 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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