Loan Comparison: 2.68% vs 6.5%
7467 Sun Chaser, Colorado Springs, CO 80922 · 2bd/2ba · $380,000
List Price
$380,000
Assumable Rate
2.68%
Remaining Balance
$292,266
Equity Gap
$87,041
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$87,041
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 2.68% + gap loan
$1,706/moAssumed loan: $1,182/mo
Gap financing: $523/mo
$576less per month with the assumable
Your Savings on This Property
7467 Sun Chaser, Colorado Springs · 2.68% VA vs 6.5% conventional
$576
per month
$6,915
per year
$207,449
over 30 years
$206,756
interest saved
How gap financing works: The equity gap ($87,041) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($68,041 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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