Loan Comparison: 2.87% vs 6.5%
5297 Makalu, Colorado Springs, CO 80924 · 3bd/3ba · $579,999
List Price
$579,999
Assumable Rate
2.87%
Remaining Balance
$467,887
Equity Gap
$112,112
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$112,112
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 2.87% + gap loan
$2,579/moAssumed loan: $1,940/mo
Gap financing: $639/mo
$904less per month with the assumable
Your Savings on This Property
5297 Makalu, Colorado Springs · 2.87% VA vs 6.5% conventional
$904
per month
$10,844
per year
$325,315
over 30 years
$325,315
interest saved
How gap financing works: The equity gap ($112,112) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($83,112 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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