Loan Comparison: 2.9% vs 6.5%
15973 Longmeadow, Colorado Springs, CO 80921 · 5bd/4ba · $774,900
List Price
$774,900
Assumable Rate
2.9%
Remaining Balance
$697,139
Equity Gap
$76,244
Loan Type
VAAdjust Your Scenario
$38,745
$38,745$76,244
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,653/moAssumable @ 2.9% + gap loan
$3,190/moAssumed loan: $2,902/mo
Gap financing: $288/mo
$1,463less per month with the assumable
Your Savings on This Property
15973 Longmeadow, Colorado Springs · 2.9% VA vs 6.5% conventional
$1,463
per month
$17,556
per year
$526,667
over 30 years
$525,150
interest saved
How gap financing works: The equity gap ($76,244) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,745, 5% of purchase price) and a second mortgage for the rest ($37,499 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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