Loan Comparison: 2.9% vs 6.5%
15973 Longmeadow, Colorado Springs, CO 80921 · 5bd/4ba · $750,000
List Price
$750,000
Assumable Rate
2.9%
Remaining Balance
$697,139
Equity Gap
$51,344
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$51,344
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 2.9% + gap loan
$3,008/moAssumed loan: $2,902/mo
Gap financing: $106/mo
$1,495less per month with the assumable
Your Savings on This Property
15973 Longmeadow, Colorado Springs · 2.9% VA vs 6.5% conventional
$1,495
per month
$17,944
per year
$538,321
over 30 years
$536,804
interest saved
How gap financing works: The equity gap ($51,344) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($13,844 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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