Loan Comparison: 2.74% vs 6.5%
3714 Anemone, Colorado Springs, CO 80918 · 4bd/2ba · $429,000
List Price
$429,000
Assumable Rate
2.74%
Remaining Balance
$315,325
Equity Gap
$113,675
Loan Type
VAAdjust Your Scenario
$21,450
$21,450$113,675
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,576/moAssumable @ 2.74% + gap loan
$1,995/moAssumed loan: $1,286/mo
Gap financing: $709/mo
$581less per month with the assumable
Your Savings on This Property
3714 Anemone, Colorado Springs · 2.74% VA vs 6.5% conventional
$581
per month
$6,975
per year
$209,249
over 30 years
$209,249
interest saved
How gap financing works: The equity gap ($113,675) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,450, 5% of purchase price) and a second mortgage for the rest ($92,225 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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